Former Google Wallet chief Osama Bedier has turned up as a director at PayRange, a startup that builds dongles that can be attached to vending machines to enable them to accept mobile payments. The move was revealed in SEC filings, spotted by GeekWire, that also show that the Portland-based company has raised $2.6 million in funding.
Innovator: Paresh Patel
Age: 39
Founder of year-old startup PayRange in Portland, Ore.
Form and function: To boost sales at vending machines among consumers who rely largely on credit cards, PayRange’s USB-size Bluetooth-enabled device can retrofit a cash-operated machine to accept payments via the company’s smartphone app.
CAMBRIDGE, MA — Imagine a mobile payments system without the wireless costs — one that is designed to be the simplest and most accessible solution for vending, amusement and other self-service appliances of all kinds, including electromechanical equipment like bulk vending machines. Vending industry innovator Paresh Patel has not only envisioned such a solution, he’s bringing it to market. PayRange allows customers’ phones to handle the entire transaction process over their cellular networks, while using Bluetooth personal area networking to actuate the vend.