CPS cheers PayNearMe integration with Cash App Pay
Consumer Portfolio Services chief operating officer Mike Lavin explained why PayNearMe now being natively integrated with the Cash App Pay is good for the subprime auto finance company.
“The addition of Cash App Pay will give our customers even more choice and flexibility for making their auto loan payments,” Lavin said in a news release from PayNearMe highlighting this new partnership that enables PayNearMe’s clients to offer their customers the ability to seamlessly pay bills using their Cash App accounts, providing more options for convenient payments.
“We are excited to be early to market with Cash App Pay, a payment type that is growing in popularity,” PayNearMe chief product officer John Minor said. “By offering Cash App Pay, we’re enabling our clients to provide their customers with more payment options and greater convenience.”
The company pointed out that the integration of Cash App Pay demonstrates PayNearMe’s commitment to providing businesses with the ability to quickly and easily accept modern payment methods favored by consumers.
The company explained all transactions are saved to a single ledger to help ensure the reconciliation process is easy for businesses accepting any or all of PayNearMe’s available payment types.
As of March, Cash App had 53 million monthly transacting actives. According to PayNearMe research, 22% of consumers say Cash App is an important or very important option for bill pay.
The native integration with Cash App Pay means customers of PayNearMe clients can make payments within their bill payment workflow. PayNearMe said there is no need to manually re-enter card or bank details, keeping sensitive personal information secure and allowing transactions to be easily carried out with only a few taps.
“Cash App Pay is a fast and simple payment solution that allows consumers to pay for goods and services using their Cash App accounts,” said Jessica Bullitt, head of commerce product at Cash App. “By partnering with PayNearMe, we’re making consumers’ lives even easier by enabling them to make bill payments at more businesses.”