PayRange acquires KioSoft to accelerate cashless payments for unattended retail

With its acquisition of KioSoft, PayRange aims to speed up the shift from coin-based transactions to mobile and cashless payments across millions of self-service machines.

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PayRange

Dec. 1, 2025

2 min read

PayRange acquires KioSoft, Charles Lee and Paresh Patel — PayRange acquires KioSoft to accelerate cashless payments for unattended retail. Charles Lee (left), president of KioSoft Technologies, will become PayRange’s vice chairman and retain a significant ownership stake in the business. Paresh Patel (right), founder and CEO of PayRange LLC, will lead the combined company.

PayRange LLC has acquired KioSoft Technologies, a move the combined company says will accelerate the digital transformation of unattended retail machines worldwide. The deal brings together PayRange’s mobile-first payment platform with KioSoft’s cashless and Internet-of-Things capabilities and its established operator network.

Longtime convenience services operators may recall the patent infringement litigation between the two companies, which began in 2020. In 2024, the companies reached a settlement in which KioSoft agreed to license PayRange technology in a deal valued at up to $62 million over 10 years after the Patent Trial and Appeal Board upheld several PayRange patents.

With the acquisition, the former litigation opponents are now combining their technology, operator networks, and product roadmaps into a single platform for unattended retail payments and connectivity. The combined company says the move will help modernize “millions of coin-operated and self-service machines,” shift transactions to digital payments, and provide operators with greater engagement and business insights.

According to PayRange, the combined company will “reinvent self-service commerce” for unattended retail connected machines across the United States, Canada, Latin America and Europe. The company said operators will be able to upgrade machines to accept cashless payments while also gaining better visibility into usage patterns and performance.

“Unattended retail is one of the last frontiers of digital transformation,” said Paresh Patel, founder and CEO of PayRange, in a release.

Charles Lee, president of KioSoft, described the deal as a major step in delivering a unified, more convenient payment experience for consumers who use unattended retail machines every day. He said KioSoft employees are joining the PayRange organization to accelerate innovation and connect more machines.

Under the agreement, KioSoft will operate under the PayRange brand while continuing to support its existing customers and partners. Lee will become PayRange’s vice chairman and retain a significant ownership stake in the business.

Why this matters

Unattended retail operators managing vending, laundry, car wash, amusement and other self-service machines could be directly impacted.
The combined platform could simplify deployments and support, but reliance on fewer providers may increase vendor concentration risk for some operators.
The move is the latest consolidation in unattended retail tech, similar to what operators have seen in micro markets and management software. Though the acquisition could mean fewer core payment/IoT platforms, it also could result in new features, extended insights and more consistent roadmaps.
The move may increase competitive pressure on other payment and telemetry providers to expand their feature sets, coverage and integration options.