PayRange, which makes a small device that plugs into vending machines that enables customers to pay with credit cards, said that it has raised $12 million in venture financing.
The company produces a device that plugs into vending machines that interacts with an app. It uses Bluetooth to connect to the app, wherein customers can make a purchase. The device works with basically any vending machine, making it a good way to retrofit existing machines to take credit cards as cash becomes increasingly less commonplace.