PORTLAND — PayRange Inc., maker of an in-app mobile payment service for unattended retail, reports its platform has powered over 100 million mobile payment transactions.
Mobile payment adoption in unattended retail is gaining momentum ahead of traditional retail, says PayRange, in part because it is solving a frequent problem: consumers often don't have the change necessary to make a purchase.
PayRange says consumers using its app pay faster than inserting quarters, making the transaction quick and easy. In addition, features specific to each vertical market leverage the power of mobile.
In laundry, for example, consumers can view machine timers in the app and receive cycle completion notifications. In vending, if a product fails to dispense, the user can be alerted immediately with a notification that the malfunction was detected and the user’s account was automatically refunded.
“While macro trends are in favor of more automated and self-service retail, lack of frictionless payment and poor overall experience have been top problems that have limited growth,” says Paresh Patel, founder and CEO of PayRange. “Virtually every consumer has had difficulty paying a machine at some point or has lost money.”
PayRange-enabled machines can be found in 350 cities and towns across the United States and Canada, and across a number of verticals, including laundry, vending, amusement, car washes and more.