New in-person payment feature will help un- and underbanked families cross the digital-analog payments divide

Pay Theory, a Cincinnati-based startup that provides payment solutions for school districts, childcare, and families, is to launch its cash payments tool to simplify the burden of making school-related payments for the roughly 30 percent of K–12 families in the US who are un- or underbanked.

The Pay Theory in-person cash payments function allows users to complete digital payment transactions in the analog world without having to have a credit card. When making a school-related payment online, users can select the "pay cash" option. They will then be issued a barcode that can be scanned by a cashier just like any other coupon. The bill can be paid in cash right along with groceries or a prescription pickup. Before walking out of the store, the payment will have been reconciled among all parties, including the school. The cash acceptance feature is available at some 65,000 stores across the US, with 95 percent of the population living within one mile of participating retailers.

Pay Theory's partners in developing its cash acceptance functionality include Abre.io, a leading K–12 administration platform provider; school forms and record management platform SC Strategic Solutions; ZippSlip, a tool that streamlines communications between families and educators; and family relationship management platform Actionaly.

With these partnerships, Pay Theory's cash acceptance tool will be accessible to nearly 25 percent of all US public schools.