PORTLAND, OR (February 16, 2015) – PayRange, the world’s simplest payment solution for machines, has been chosen as a finalist for the PYMNTS.com 2015 Best Prepaid Innovation category. PayRange founder and CEO Paresh Patel stated, “We are excited that after such a short time, the payments industry has recognized how we are transforming the market through innovative mobile payment solutions for machines. Being named a finalist is a ‘win’ for us.” There were more than 600 submissions altogether. PayRange is being considered among more than 80 finalists across 16 categories.
Finalists are competing for Gold, Silver and Bronze awards in each category through a popular vote, with winners being announced during a live ceremony at the payments industry’s foremost thought leadership event March 18-19, 2015. Voting is open through February 25, 2015 and everyone is encouraged to review the finalists, and help PayRange – as well as the vending industry – win Gold by voting at: http://www.theinnovationproject2015.com/innovator-awards/
The PayRange solution is truly innovative and deserving of the top award. Machine operators install an inexpensive Bluetooth Low Energy device, the PayRange BluKeyTM, to enable their machine for mobile payments. Consumers then use the free PayRange app to make purchases from the machine. The patented system provides unattended retail operators as well as consumers a new way to process payment at both new and old machines alike, bringing the previously decades-long cash-dependent payment system into the mobile payment age. Mobile payments simultaneously reduce dependency on cash and coin, give consumers a convenient payment option, reduce payment processing costs for operators compared to credit cards, and have been shown to increase overall machine sales.
PayRange was founded in 2013 by Paresh Patel in order to provide operators and consumers with the simplest, most accessible mobile payment solution possible. The company is currently distributing its BluKey™ device to operators in the US. Consumers can download the free mobile app from either the Apple App Store for iPhone users or the Google Play Store for Android users. The PayRange app enables consumers to make their transactions at unattended points of sale —vending machines, amusement devices, laundry and more — quicker and easier. And with flexible funding options including all major credit and debit cards plus the ability to add funds via Apple Pay, consumers are empowered to make mobile payments a reality. Find out more at www.payrange.com.