Allowing consumers to make bill payments in cash at participating retail locations significantly increases the convenience of paying bills for unbanked or underbanked consumers. Add to that, the convenience of not having to get into a separate line is a game changer! For many consumers that pay their bills in cash, not having to go to a check cashier/bill payment company or wait in a separate line in addition to their normal shopping is a major time saver.
“InComm’s VanillaDirect™ Pay in-lane cash payment option allows consumers to make payments without needing a bank account, credit or debit card or making a trip to a separate area of the store.
Partnering with CheckFreePay®, InComm expands the number of billers’ payments accepted by their retail partners. CheckFreePay will leverage InComm’s extensive biller footprint, supporting in-person payment preferences for millions of consumer accounts. CheckFreePay provides greater ease and convenience for walk-in bill pay customers with availability at thousands of retail locations, soon to include InComm retailers such as Dollar General and Family Dollar.”
Not only will consumers be able to make in-lane payments, they will be able to make the majority of their bill payments as CheckFree has one of the largest biller files in the nation. Because of the number of payment types (cell phone, gas, electric, etc.) that will now be able to be paid at participating locations, the locations will experience an increase in foot traffic and add on sales. For many families these locations will become a one stop shopping experience.
With this new partnership InComm’s VanillaDirect Pay will go head to head with MoneyGram and Western Union as well as check cashiers who offer bill payment functionality. It’s interesting in an era where most payment providers are seeking cashless options to serve their clients, InComm has taken a different approach. The results will be very interesting …
Overview by Sue Brown, Director, Prepaid Advisory Service at Mercator Advisory Group