Innovator: Paresh Patel
Founder of year-old startup PayRange in Portland, Ore.
Form and function: To boost sales at vending machines among consumers who rely largely on credit cards, PayRange’s USB-size Bluetooth-enabled device can retrofit a cash-operated machine to accept payments via the company’s smartphone app.
PayRange was founded by Paresh Patel, an unattended retail veteran, to provide operators and consumers with a simple and secure mobile payment and loyalty solution for laundry, vending, amusement, and other small ticket merchants. PayRange is the North American leader in mobile payments for unattended retail, with over 3 million users and a network of machines throughout 350 cities and towns in the US and Canada. Find out more at www.payrange.com.