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PayRange introduces instant cash access to mobile pay settlements for vending, laundry operators

PayRange Inc., a network for everyday purchases, has introduced a feature that allows machine operators to instantly transfer their mobile payment settlements on demand to a debit card, 24 hours a day, seven days a week, according to a press release. The goal of this program is to support PayRange customers as they adapt to the economic realities of the COVID-19 emergency. 

Mobile transactions that occur on machines will be available to withdraw in real-time. Instant transfers enable the operator to receive settlements of their mobile transactions on demand anytime. Funds are available to the debit card within minutes of request, allowing them to withdraw cash from an ATM, or use the debit card for purchases such as supplies, truck repairs or payroll. The feature is optional with any remaining funds deposited via ACH on the normal schedule.

PayRange hopes to offer some relief by allowing operators who may be struggling financially because of the coronavirus immediate access to funds instead of waiting for their scheduled deposit.

"Unattended retail operators are providing an essential service during this global crisis, allowing people to continue to do laundry, and to buy food, water and other supplies," Prashant Kanhere, CTO of PayRange, said in the press release. "We built and launched this instant transfer feature to support our merchants so they can continue to serve their customers as best as they can. We appreciate that we are all in this together."

For the latest updates on how the coronavirus is affecting the vending industry, click here.