According to the press release, the move will allow PayNearMe to offer businesses and financial institutions the capability for in-app bill presentment that enables their customers to make bill payments via automated clearing house or with credit, debit or prepaid cards.
Prism Money is intended to help consumers track their bank balance, paycheck deposit, billing amounts due and due dates, as well as enabling them to make payments.
PayNearMe said that through the acquisition, a wide range of enterprises from banks to business to government agencies can now offer consumers the same features enjoyed by Prism Money users via API integrations with the underlying platform that powers Prism Money and PayNearMe.
More than that, PayNearMe said Visa will offer PayNearMes new suite of customizable bill presentment and payment processing capabilities to its enterprise customers, including Visa prepaid consumer reloadable card programs.
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