PayNearMe Selected as Platinum Winner for Best QR Code Payment Solution by Juniper Research
We’re proud to announce that we’ve been selected as a Platinum Winner for “Best QR Code Payment Solution” in the 2022 Future Digital Awards for Fintech & Payments.
This win was driven by the incredibly versatile and user-friendly PayNearMe Smart Link™ technology that makes the transition from paper bills to online payments seamless for consumers. With Smart Link, billers simply print a personalized QR code on each bill, enabling consumers to scan and pay without the need to register an account, login or enter redundant information.
PayNearMe wants to recognize our entire team for their dedication and commitment to our clients and innovative features that are focused on redefining the payments and bill pay industries.
Additionally, we’d like to thank our clients, as they are the driving force behind our ongoing development and success. Many of our new features come from client inputs during the sales cycle, onboarding process or ongoing relationship with our team. This feedback loop has helped drive the development of many of our most popular capabilities.
Finally, we’d like to thank Juniper Research for recognizing PayNearMe’s focus on innovation and growth in the payments space. Their exclusive award program recognizes “the most impactful financial products and services operating across numerous areas, including: Banking, Fraud & Security, and Retail & Payments.”
“We’re thrilled to be named a platinum winner for the Best QR Code Payment Offering award. Making the bill pay process easier – especially for those who still receive paper bills – is a top priority for PayNearMe, and we believe that Smart Link QR codes are a simple, elegant solution that anyone can use, said John Minor, SVP, Product for PayNearMe.
“By enabling consumers to scan and pay without keying in an account number, username or password, we make electronic bill payments even more accessible and streamlined,” said Minor.
Innovation was a key consideration factor in the submission process. While PayNearMe Smart Link™ technology has several features and benefits, the following features helped seal the deal for the award.
First, our QR code feature eliminates one of the biggest points of friction for billers: simplifying the bill pay process for consumers that traditionally pay bills offline by offering a payment option any way customers want to pay–in just a few clicks. By reducing friction and using familiar technology, consumers are able to quickly pay online without the need to navigate confusing registration processes or create a username and password. This type of payment experience may exist in other industries, but is sorely lacking in the bill pay experience.
Second, Smart Link™ QR Codes make new payment methods available to consumers who typically receive a paper bill. A consumer who scans the QR code is instantly brought into a payment flow that offers debit, credit, ACH, cash at retail, Apple Pay, Google Pay, PayPal and Venmo—all in a single, consistent user experience. The same QR code can be reused by a consumer who wishes to pay with a different payment method in the future (such as Venmo or Apple Pay), without any additional setup required. This simply isn’t possible in most paper bill scenarios.
Finally, Smart Link™ QR codes are innovative because of their configurability. Billers can create a personalized Smart Link for a consumer and use it to print a QR code, or send it via text message and email. The data shown when a Smart Link is clicked enables it to show/hide certain information as needed. For businesses with different security standards, the Smart Link can be set to expire after a specified date or number of uses.
Smart Link™ QR Codes make the transition from paper bills to online payments seamless. Billers simply print a personalized QR code on each bill, enabling consumers to scan and pay without the need to register an account, login or enter redundant information.
Billers love the technology because it increases electronic payment adoption from those who typically receive paper bills. This can reduce the total cost of payment acceptance, improve straight through processing, simplify reconciliation and lower customer service calls.
Consumers love the technology because of its simplicity and speed. 52% of consumers say that remembering usernames, passwords and account numbers makes paying bills difficult—a challenge eliminated by Smart Link™ QR codes.
See It In Action
See how California’s largest network of toll roads experienced a 640% increase in payments through PayNearMe, or click here to learn more about Smart LinkTM QR codes and to schedule a demo.