PayNearMe Announces Record Growth as Client Wins Continue to Climb
COMPANY GROWTH PayNearMe is successfully executing against its growth strategy. During this timeframe, the company: -- More than doubled revenue in electronic payments -- Grew the number of merchants on its platform by 20% -- Increased transaction volume by more than 50% -- Increased digital wallet payment share in our client base by more than 60% year over year -- Expanded our cash retail network by nearly 50% by adding more than 13,000 Walgreens and Walmart locations -- Increased cash volume nearly 50%, validating the need for cash payment options
- "2022 is proving to be a pivotal year for PayNearMe as we continue to execute on our aggressive growth objectives and exceed our targets quarter after quarter," said Michael Kaplan, Chief Revenue Officer and General Manager, PayNearMe.
- The company has experienced tremendous growth during the last 18 months (January 1, 2021 June 30, 2022).
- PayNearMe is successfully executing against its growth strategy.
- The PayNearMe service is operated by PayNearMe MT, Inc., a licensed money transmitter.