PORTLAND, Ore., June 7, 2017 /PRNewswire/ -- PayRange Inc., maker of the world's simplest mobile payment solution for machines, announced it has been issued a United States patent for technology that sends machine events to the mobile device to notify users of the status of the transaction. This is particularly useful to communicate with consumers when an error has occurred during their purchase. Additional frustrations are avoided when they are automatically informed in real-time of a credit being applied.
"Virtually everyone who has ever used a vending machine has lost money at some point," stated Paresh Patel, founder and CEO of PayRange. "It's kind of expected, but it doesn't have to be. We're reinventing the entire purchase experience and creating new innovations to make paying unattended machines easier." PayRange, backed financially by leaders in payment, has invested significantly in research and development over the past few years. An extensive portfolio of intellectual property, including 30+ issued and pending patents, demonstrates the commitment to lead in this space.
Competitive payment solutions for vending machines are a one-way interaction. The user inserts or presents payment and then the machine attempts to dispense. It was not cyclical until now. While some existing technology can refund transactions when an error occurs, the mobile user is left without any notification. With the newest patent, PayRange uniquely provides a two-way status communication back to the mobile device to inform the user of events related to the transaction. Enhancing the refund experience is just the start of how this innovation will be utilized. The technology can be applied beyond vending to expand experiences with kiosks, self- service checkout terminals, automated retail, and payment for the internet of things.
PayRange was founded in 2013 by Paresh Patel to provide operators and consumers with the simplest, most accessible mobile payment solution for vending, amusement, laundry and more. Consumers download the free mobile app from either the Apple App Store or the Google Play Store. And with flexible funding options including all major cards, Apple Pay, and Android Pay, consumers are empowered to pay machines with ease. PayRange-enabled machines can be found in over 300 major cities across all 50 United States, Canada and Puerto Rico. Find out more at www.payrange.com.
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