Cash No Longer King; PayRange Network Rules with One Billion Transactions
More than half the transactions on the PayRange machine network are now completed with mobile payment.
Processing more transactions per minute than Bitcoin, PayRange has been quietly gaining momentum over the past six years. With rapidly growing numbers of users and locations, the network recently celebrated recording one billion cash and mobile transactions. The typical PayRange user averages 15 transactions per month placing it among the most frequently used payment apps. In the past, these transactions were mostly completed with cash and coin, but now over half the transactions on the PayRange network are paid with touchless mobile payment.
PayRange brings offline machines into the digital era by leveraging the consumer’s smart phone for connectivity, making it cost effective for businesses to upgrade all their equipment. The company’s patented technology is powered by an inexpensive Bluetooth dongle that plugs into virtually any automated retail machine in minutes. In addition to processing mobile payments, PayRange reports back cash transactions and other data to help better manage the business.
“The small ticket purchases people make every day add up to an enormous market opportunity, one we’re just starting to tap into,” says Paresh Patel, Founder and CEO of PayRange. “The network we’re building modernizes the experience for consumers, and empowers businesses with tools to optimize their sales and reduce costs. While surpassing one billion transactions is worth celebrating, we are most excited because we know this is only the beginning.”
The pandemic accelerated growth for PayRange as businesses and consumers alike have scrambled to find convenient and safe touchless payment methods. Named by Deloitte as one of North America’s top 100 fastest growing technology companies, PayRange is taking the crown away from cash to be the undisputed leader in unattended retail.
PayRange is a mobile payment network for things consumers purchase regularly. The technology helps businesses grow by giving consumers the freedom to purchase what they want, without being limited by how much change is in their pockets. PayRange is committed to ensuring no business is left behind in the digital commerce revolution. The Pacific Northwest based company operates its network of machines across 350 cities and towns in North America and has millions of users. https://www.payrange.com
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