- Mobile reader
- App For Smartphone
- Load With Credit Card
- Low cost
- Low weekly fee
- Flat rate fees
- MDB install
Make Change. Take Mobile.
PayRange was founded by Paresh Patel, a veteran of the automated retail industry having previously founded companies on both the customer-side and the technology-side. While credit card solutions for machines have been around for two-decades, Paresh recognized that current solutions pencil out for just a small fraction of machines. Undeniably the benefits are compelling — double digit lift in sales — but the cost of such solutions is a barrier as evidenced by penetration in the low single digits. One day his car needed air and he stopped at a gas station only to realize the machine only accepts four-quarters … and he had three. He unsuccessfully searched the ashtray of the car, under the seats, asked around, and finally accepted he wasn’t going to be able to get the air. It’s frustrating, and he realized the problem was not the price – the problem was he was just physically unable to make the purchase due to payment. Payment was the barrier to the sale, not customer demand. PayRange is focused on eliminating payment as the barrier. We start not with the technology, but rather the operator’s realities and the user experience. First it must work for the operator, or there will be little deployment. Second, it must be simple or there won’t be many using it
The foundation of our unique approach is simple:
Leverage the user’s connection. Why connect machines to the cellular network when the users have a connected smart phone? We eliminate the costly cellular hardware and recurring monthly fees and provide an interface that is familiar to the user (their own phone). Aggregate micro-payments. Users prefund our wallet and then use on a variety of machines. It is more convenient and faster for the user, and reduces transaction costs for the operator. Eliminate contact point on machines. We significantly reduce problems for the operator by eliminating physical contact. And because there is no contact point, we improve ADA compliance – with the user’s phone in hand, it doesn’t matter if the user is 6’9” or in a wheelchair. The transaction rate is 4.25% and there is a .50 per week subscription fee. If you buy PayRange along with a vending machine from Vending World then we subsidize the cost of the unit by giving you reduced pricing.
Copyright 2016 PayRange Inc..
Why Vending World?
Why Buy A Refurbished Machine?
Great Returns - Commercial Grade Machines - Affordability
New vs Refurbished
We used to sell new machines as well as reconditioned. We no longer sell new for the following reason: According to a recent survey of vending operators about 93 out of 100 potential vending accounts do not make enough revenue to warrant the cost of new equipment. New machines are great if you have high volume accounts, but most people do not have these accounts. Typical cost on new 'commercial grade' machines run as much as: Can drink $3400-$4800, Snack $3600-$4500, Cold food $7200-$8500, as you can see quite high compared to used or refurbished. Priced with mech and validator, typical options, vendor pricing, not including sales tax or shipping in some cases. Please remember 'anyone and everyone' can call their machines refurbished but what does that really mean? Please see our machine ratings page for what we actually do to our machines. Many of our competitors don't even 'clean or paint the inside' of the machines.Start small and grow as you can afford it.
Many people start in the vending business without much knowledge. This can hurt you financially if you are not careful. All of the machines that we sell are full size, commercial machines. There are many machines that are made that are small, countertop or mechanical coin acceptance. These machines are fine if you are a housewife looking to make a little extra money on the side. We used to sell those type of machines and no longer do. The main reason is that people who were serious about vending would out grow these type of machines in several months. There are two main problems with the small mechanical machines. One problem is the machine does not make change or take dollar bills. The second problem is that the machine will 'work you to death'. Most of these machines hold under 100 products and can only gross $40 to $50 at a time, if the entire machine empties out. This is only the gross, the profit is less than 1/2 of that amount. A full size commercial machine on the other hand usually holds 350 to 600 products and empties out at $250 to $500. Remember you spend the most time driving to the location so you might as well fill 500 products as soon as 50.