PayNearMe lets Americans pay taxman in cash at 7-Eleven stores

Source: PayNearMe

For the first time, U.S. taxpayers can make payments to the Internal Revenue Service (IRS) in their own neighborhood, without the need for a bank account or credit card.

With the scan of a PayNearMe barcode on a smartphone at nearly 7,000 participating 7-Eleven stores, taxpayers who need to use cash for their tax payment can do so at the register, just as if they were purchasing a gallon of milk or a cup of coffee.
Most stores are open 24 hours a day, seven days a week, making it easy and convenient for taxpayers to pay in their own neighborhoods, on their own schedules.

"Our bill payment solution is quick, easy, reliable and secure, which is why OfficialPayments.com is the longest tenured bill payment site for the IRS, having processed $14 billion in IRS tax payments since 1999," said Carolyn Homberger, group president, ACI Worldwide. "Today's consumers want convenience, as evidenced by the more than 75 percent of IRS electronic payments that are made through OfficialPayments.com via online or a mobile browser. Adding a new cash payment option that is mobile-accessible brings convenience, and another flexible payment option, which is powered by PayNearMe."

To obtain a PayNearMe barcode, taxpayers visit www.officialpayments.com/fed, choose their IRS form type, and select 'Pay with Cash' as their payment option. They can elect to receive their barcode via email to print, or on their smartphone, which presents them with a list of the closest 7-Eleven stores where they can pay.

Once the payment is made, taxpayers receive a receipt as proof of transaction. Payments are typically posted within two business days, although it is advised that taxpayers initiate payment at www.officialpayments.com/fed at least seven business days prior to their tax payment deadlines, due to the IRS' identity verification requirements.

Each taxpayer's federal tax payment in cash must not exceed $1,000 per day and taxpayers can make up to two payments per tax period using this method. There is a small service fee of $3.99 for each payment.

"Government agencies and payment processors use PayNearMe to collect cash payments for everything from utilities to bike share membership," said Danny Shader, founder and CEO of PayNearMe. "Customers appreciate when the organizations care enough to offer them payment options at convenient locations and the organizations are happy to automate traditionally time-consuming payment processes to enable payments 24 hours a day."

"We're excited to be the first convenience store where taxpayers can make cash payments to the IRS through PayNearMe and OfficialPayments.com," said Keith Jones, Vice President of Communications for 7-Eleven. "We're always looking for ways to offer more value and save time for our customers, and this is a great way to do both -- taxpayers can grab their morning coffee and take care of their tax payment in one stop, without missing a beat of their busy day." 

Contributed | what does this mean?
This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

Comments: (0)

Find out more