Last week, PayNearMe announced PayNearMe Auto, a new version of its service that allows Buy Here Pay Here vehicle dealers to accept cash payments in a broader number of locations:

“PayNearMe Auto is a secure, hosted Web application that dealers can have up and running in less than 15 minutes. Dealers simply enter the buyer’s information and assign the individual a PayNearMe card. To make a payment, the customer hands the card and cash to a store associate at any of the 6,400 participating 7-Eleven stores throughout the United States. Dealers are notified when the payments are made and the customer can use their PayNearMe card repeatedly.”

PayNearMe Auto aims to increase operational efficiency by allowing merchants to securely collect payments off-site.

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