Categorized | Global Economy

Cashing the Digital Economy

square-card-readerDespite the rise of bitcoins and other digital payment methods, many people still prefer to use cash. Unfortunately for these people, the digital age isn’t very cash friendly. Companies like PayNearMe have noticed this trend and are rushing to provide a way to pay for internet purchases using cash. Companies that accept PayNearMe will list this on their websites. All a customer needs to do is select the option then print out the pay slip and take it to a PayNearMe vendor to make the payment in cash. Once the transaction is complete, the merchant is notified that the payment has been received. PayNearMe is also a convenient way for landlords to accept cash rent payments while giving tenants the ability to make payments 24 hours a day.

PayPal, a giant in the online payment world, has a solution of its own. PayPal users can purchase a card using cash at CVS or other stores and then upload the cash to their PayPal account. Then, they simply need to use their PayPal account to pay for purchases at online marketplaces. Since PayPal account holders are not required to link their bank account or credit card information, this card has become very popular among those that are concerned about internet security. In addition, the preloaded card helps internet shoppers stay on budget.

Additional Resources
PayNearMe nabs $20M to bring cash-lovers into the digital economy
Cash: Rumors of its death are greatly exaggerated

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