News from the Wire

PayRange Provides Instant Cash Access to Vending and Laundry Machine Operators During Crisis

Wednesday, March 25, 2020 — 09:36:27 (EDT)

PORTLAND, OR (March 25, 2020) – PayRange Inc., a network for everyday purchases, launched a feature that allows machine operators to instantly transfer their mobile payment settlements on demand to a debit card, 24-hours a day, 7 days a week. The goal of this program is to support PayRange customers as they adapt to the economic realities of the COVID-19 emergency.

With limited route operations resulting in fewer collections from machines, merchants may be facing cash flow disruptions. PayRange hopes to offer some relief by allowing operators immediate access to funds instead of waiting for their scheduled deposit. Mobile transactions that occur on their machines will be available to withdraw in real-time. Instant transfers enable the operator to receive settlements of their mobile transactions on demand anytime. Funds are available to the debit card within minutes of request, allowing them to withdraw cash from an ATM, or use the debit card for purchases such as supplies, truck repairs, or payroll. The feature is optional with any remaining funds deposited via ACH on the normal schedule.

“Unattended retail operators are providing an essential service during this global crisis, allowing people to continue to do laundry, and to buy food, water, and other supplies,” stated Prashant Kanhere, CTO of PayRange. “And like most businesses, they are facing unprecedented challenges. We built and launched this Instant Transfer feature to support our merchants so they can continue to serve their customers as best as they can. We appreciate that we are all in this together.”

About PayRange:

PayRange was founded by Paresh Patel, an unattended retail veteran, to provide operators and consumers with a simple and secure mobile payment and loyalty solution for laundry, vending, amusement, and other small ticket merchants. PayRange is the North American leader in mobile payments for unattended retail, with over 3 million users and a network of machines throughout 350 cities and towns in the US and Canada. Find out more at www.payrange.com.

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Source: Company press release.