Digital Transactions Authoritative, insightful and timely information for payments professionals
PayRange Inc., a specialist in contactless payments for vending machines, is making good on $12 million in funding it raised last year with a couple of contract announcements.
Portland, Ore.-based PayRange said Monday the Canadian National Vending Alliance, a coalition of large vending operators in Canada, will equip all vending machines in its coalition with PayRange’s technology. The deal involves more than 10,000 machines, says Sabbir Kabir, national account manager at the alliance.
PayRange announced last week that American Food and Vending, a Syracuse, N.Y.-based vending operator, will install PayRange devices across its 50 branches in 35 U.S. markets.
PayRange provides a BluKey dongle that attaches to the internal wiring harness of a vending machine. Consumers use a free PayRange iOS or Android app to make a payment.
The PayRange device transmits a Bluetooth low energy signal that most recent smart phones can detect. There is no device pairing between the vending machine and smart phone, and no bar codes to use. BluKey devices cost $79 for vending machines lacking a card reader and $99 for machines already equipped with a card reader, Paresh Patel, chief executive and founder, tells Digital Transactions News.
To make a transaction using PayRange, the consumer opens the PayRange app, which locates the nearest machines. The consumer selects the appropriate one and makes her selection on the machine. When ready, she swipes up in the PayRange app to make the payment. She also can swipe down to cancel or use the machine’s payment-acceptance device. Consumers load funds into the app with a credit or debit card, or they can use Apple Pay.
