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digitaltransactions.net Published on June 25, 2015

With New Funding, PayRange Targets Contactless Payments in Vending Machines

With $12 million in new funding, PayRange Inc. wants to place more of its Bluetooth-equipped dongles inside vending machines to enable more consumers to make contactless, and cashless, payments.

The funding, announced Thursday by Portland, Ore.-based PayRange, will be used to expand its staff and increase the number of PayRange-equipped machines, says Paresh Patel, founder and chief executive. Palo Alto, Calif.-based Matirx Partners, a venture capital firm, led the funding round, PayRange says.