Vending machine payment startup PayRange has secured $12 million from investors and is adding a former Square executive to its board as it looks to scale up deployment of its devices.
PayRange makes an easy to install device that allows existing vending machines to accept credit card or mobile payments. The company was founded in 2013 and formally launched last year.
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.
