PORTLAND, Ore., April 18, 2017 /PRNewswire/ -- PayRange Inc., maker of the world's simplest mobile payment solution for machines, announced it has signed an agreement with Sumitomo Mitsui Card Company (SMCC), the largest merchant acquirer in Japan to begin the work necessary to expand the PayRange mobile payment solution to millions of Japanese vending machines.
Japan has among the most advanced vending machine markets in the world. The ubiquitous vending machines are available on virtually every street corner in the cities. However, almost none of the vending machines take credit or debit cards. Some machines accept prepaid transit cards, but the vast majority are cash and coin only.
"It has been very expensive to bring cashless solutions to this vending market. The PayRange solution is unique in that it requires no networking infrastructure allowing easy upgrade of the existing fleet of machines," stated SMCC. "We're particularly eager to offer solutions to vending merchants that will allow them to upgrade their machines ahead of the 2020 Tokyo Olympics when millions of visitors and athletes will visit. We want them to be able to easily use the vending machines."
In addition to vending, the PayRange solution will also be available on Japanese laundry and amusement machines. SMCC has experience bringing innovative payment solutions into Japan. They have partnered with other US companies such as Square and Stripe to make those services available in that market.
"Partnering with SMCC is an exciting opportunity for PayRange," stated Paresh Patel, founder and CEO of PayRange. "The Japanese vending is large, but also complicated. SMCC's leadership, reputation, and experience is what we sought to ensure success of our entry into the market."
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 across the 50 United States and throughout Canada. Find out more at www.payrange.com.
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