Global Developments are Leading to a Greater Reliance on Mobile Transactions

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As anyone can tell you, technology around the world is expanding at breakneck speed and is most noticeable right in the palm of your hand. Apps ranging from topics such as communication to games to productivity are changing the way we live. They are even changing the way we pay.

Mobile Payments On The Rise

According to a report by Allied Market Research, increased usage of smartphones as well as the need for smoother transactions are driving the mobile-payments market which is expected to reach a value of over three billion dollars in the next five years. People are becoming more accustomed to making digital payments even for smaller amounts. This trend is showing that digital transactions are on the rise, poised to overtake cash payments for the number one way small transactions are made.

Industry Giant, PayPal, is  getting into the mobile payment side and also keeping up with the trend. They have recently acquired financial tech company iZettle, creating a payment powerhouse.  iZettle is known for hardware and software targeted to smaller businesses.

“Small businesses are the engine of the global economy and we are continuing to expand our platform to help them compete and win online, in-store and via mobile,” said PayPal President and CEO Dan Schulman. “iZettle and PayPal are a strategic fit, with a shared mission, values and culture-and complementary product offerings and geographies”

Mobile Payment Within Vending

PayRange is helping the vending industry keep up with the mobile payment trend by working with key partners such as U-Select-It. Through this partnership,  PayRange is built in to U-Select-It’s new, open-architecture FLEX control board. The FLEX board is featured in the new Evoke Snack series machines, as well as across its full vending equipment product line. This out-of-the box integration provides customers with a no hardware cost  mobile payment option that drives vending product sales.

Why Consumers Love PayRange

Convenience today means consumers get what they want, where and when they want it.  With PayRange mobile payment system, consumers simply swipe and go. Consumers love PayRange because it is Simple, Fast, and Secure.

Simple.

Gone are the days of digging for loose change or waiting for your card to process.  With a swipe up on your phone, making vending product payments is simple.

Fast.

Faster than inserting coins into a machine, PayRange is the quickest way to pay for products from vending machines.  Use all major credit and debit cards or add funds via Apple Pay, Android Pay, or Masterpass.

Secure.

Paying with your phone is the smart and safe way.  Your card details are never sent to the machine. Plus, adding funds to your wallet is simple.

Want to learn more about USI’s Evoke Snack series featuring on-board PayRange mobile payment capability? Call us at 1-800-247-8709 or fill out this form.

 

Until next time,

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