PayRange, a provider of mobile payment options for unattended retail locations, has launched a new program that enables machine operators to instantly transfer their mobile payment settlements on demand to a debit card, 24 hours a day. The goal of this program is to support PayRange customers, including laundromat owners, as they adapt to the economic realities of the COVID-19 crisis, according to the company.
PayRange hopes to offer some relief by allowing operators immediate access to funds, rather than waiting for their scheduled deposit. Mobile transactions that occur on their machines will be available to withdraw in real time. Instant transfers enable the operator to receive settlements of their mobile transactions on demand at any time. Funds are available to the debit card within minutes of request, allowing owners to withdraw cash from an ATM, or to use the debit card for business purchases, such as supplies or payroll. The feature is optional with any remaining funds deposited via ACH on the normal schedule.
“Unattended retail operators are providing an essential service during this global crisis, allowing people to continue to do laundry, as well as to buy food, water and other supplies,” explained PayRange CTO Prashant Kanhere. “And, like most businesses, they are facing unprecedented challenges. We built and launched this instant transfer feature to support our merchants so that they can continue to serve their customers as best as they can. We appreciate that we are all in this together.”
PayRange has more than three million users and a network of machines throughout 350 cities and towns in the U.S. and Canada.