Oregon Patent of the Month – February 2021
PayRange, Inc. is aware that sometimes, the barrier between a customer and a service is not the money, but the payment method. For instance, if a vending machine requires cash and only accepts certain coins (e.g. quarters) and you only have bills or cards- you can afford the service but you can’t pay for it. So, they decided to design an offline-payment operated machine which accepts payments from your cell phone – that way even if you forget your wallet, you’re covered.
The machines (e.g. vending machine, parking meters etc) can easily connect to the mobile payment device, which uses an MDB plug. Unlike debit/credit machines, this device operates offline so payment can be received without internet connection. The device connects to an application on the user’s cell phone to receive payment, as long as the user is within range. It also offers a hands free option by allowing the user to complete the entire transaction from their phone, so no need to touch public machines. The application includes a virtual wallet where money can be transferred from the user’s bank or credit card and serve as a “credit” in the wallet. As long as the credit in the wallet is sufficient, the device will accept payment. This payment method is ideal for any machine that is limited to cash or limited by connectivity issues.
About PayRange
PayRange was created to break the payment barrier. Their mission is to empower you to effortlessly improve your customers’ payment experience, driving higher engagement and business efficiencies.
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