Bank Technology News reported last week that alternative payments company, PayNearMe, is working with Progreso Financiero to launch a mobile version of its 7-Eleven cash payments platform in mid-February:

“Progreso will send a bar code to individuals’ smartphones using a text message. 7-Eleven’s clerks would scan the bar code after to complete the payment after receiving users’ cash, Shader says. Progreso, of Menlo Park, Calif., helps Hispanic consumers build credit in the United States and gain access to mainstream financial services.”

The startup also hopes that by the end of March, it will add another brick-and-mortar store where consumers can go to process cash transactions for bills, bus tickets, auto loans and more.

To learn more about PayNearMe, watch its FinovateFall 2011 demo.