PayNearMe a company that works in the electronic cash transaction network, as well as Telinta a global leader in the cloud based VoIP switching and billing field have announced a new partnership earlier this week. Customers of the Telinta telecom service provider will now have the ability to accept cash payments at more than 17,000 7-Eleven, Family Dollar and ACE Cash Express stores across the United States.

This will be a rather significant payment resource, according to the two companies, because most of the stores where this service will be offered are open 24 hours and seven days a week. The people who use this particular service will only need to go through the process for 60 seconds, meaning that they will be able to get in and get out without it cutting into their day.

According to the FDIC’s recent report, there are more than 34 million households in the United States that don’t have any, or very limited access to a bank account. That number translates to about 28 percent of the entire population that doesn’t have good access to a bank. This service steps in and serves as a kind of “instant” bank account when it comes to sending or receiving money. "Having an easy way to pay for telecom services is a necessity for all consumers," said Danny Shader, PayNearMe's founder and CEO in a recent statement. "This partnership helps friends and families stay in touch across thousands of miles, regardless of whether they choose to pay through plastic or cash. Telecom service providers who use PayNearMe will find that it is a unique competitive advantage over others in the industry who are not yet serving this segment of the population."

In order for Telinta customers to make a cash payment for their telecom services, customers just visit the provider’s self-care portal and select pay with cash. They can do this when paying for either prepaid services or postpaid. The portals also generate a code they can send to their phones. The customer just needs to bring cash to the location and the clerk will generate a receipt showing proof of payment. The company also gets alerted immediately.