PayNearMe, the cash transaction network, today announced the availability of a new mobile cash payment system, changing the way millions of consumers pay their bills and purchase goods or services. Deploying this option, Greyhound and Progreso Financiero became the first companies to offer the 25 percent of U.S. consumers who lack credit or debit cards or who prefer to pay with cash the ability to use their mobile phones for payments.

PayNearMe’s mobile service is designed to provide cash consumers, including those who are unbanked and underbanked, with a cash-payment option that utilizes a tool that is already a part of their everyday lives. Currently more than half of U.S. mobile phone owners have smartphones, and prepaid smartphones commonly used by cash consumers and the unbanked are one of the fast-growing segments of the mobile market.