Here’s a year-end bonus story that is sure to make you smile, especially if you’re an employee at PayRange Inc. The Portland, OR-based mobile payments company paid a loyalty bonus of $10,000 per year to each of its employees.
“Over the years, we’ve had some great highs, but also some lows. But through it all, we’ve had a very loyal and dedicated team that has worked exceptionally hard to innovate, build, grow and propel the company to profitability,” PayRange founder and chief executive Paresh Patel posted on his LinkedIn page.
PayRange’s average bonus payment was $56,559 per employee, or “Ranger” as they’ve become known, the equivalent of a five-and-a-half-year duration. The fintech company currently employs 22 people and is planning to hire more in 2022.
“While every employee has stock options, we wanted to reward them with something tangible now,” Patel said. “It was a life-changing amount for some. Thank you, Rangers, for your unwavering commitment and dedication in executing our vision.”
Separately, Deloitte once again ranked PayRange as one of North America’s fastest-growing technology firms.
Founded in 2013, PayRange’s payment network is active in some 350 cities and boasts millions of users. Its patented technology is powered by an inexpensive Bluetooth dongle that plugs into virtually any automated retail machine. In addition to processing mobile payments, PayRange reports back cash transactions and other data to help better manage the business. More than a billion transactions have been processed on the PayRange network.