Payments technology company InComm and online billpay platform doxo are partnering this week to enable doxo users to pay bills using cash.
doxo is leveraging InComm’s VanillaDirect retailer network that contains more than 60,000 brick-and-mortar locations including chains such as Dollar General, Family Dollar, and participating 7-Eleven stores.
“Our cash payment network is perfectly aligned with doxo’s vision of empowering consumers to improve their financial lives,” said InComm Payments SVP of Business Development Tim Richardson, adding, “and in this instance providing their users with a simple and convenient experience for making cash payments to household billers in an extensive network of retail locations across the United States.”
To pay their household bills using cash, doxo users select the pay with cash button in the app. Cash-paying users will receive a barcode on their mobile app that they scan at the participating retailer’s point of sale, which will charge them the correct amount for their selected bill. Once the customer pays their bill, the biller receives the payment instantly, just as they would with a credit card, debit card, or checking account payment.
The new billpay method not only helps underbanked consumers, it also benefits the billers. Just over 13% of utility bills in the U.S. are paid using cash, which incur more processing costs than digital payments. The added capability will also give doxo a boost by offering utility companies a greater incentive to join doxo’s network of more than 100,000 billers.
Founded in 2008, doxo offers a mobile app that enables its five million users to manage and pay all of their bills from a single place. The company’s doxoPLUS offering provides credit protection and identity theft protection. doxo also offers late fee protection, a feature made possible thanks to a 2019 partnership with Plaid.
Headquartered in Seattle, Washington, doxo has raised $18.8 million in funding from investors including Sigma Partners, Bezos Expeditions, and Mohr Davidow Ventures. Steve Shivers is CEO.
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Source: https://finovate.com/incomm-teams-up-with-doxo-to-help-users-pay-bills-in-cash/
