PayRange Announces Price Increase On BluKey Vending Amusement Hardware

PORTLAND, OR -- Effective Mar. 31, the unit price for PayRange's BluKey MDB mobile payment will be $79, and $99 for the BluKey Plus. The increase only affects the initial cost on purchases of new devices.

This is the first price increase for the devices, which originally cost $49, since the company introduced its Bluetooth-based payment system in 2014. While the BluKey hardware is the same, PayRange has since spent millions of dollars on developing software for its Smart Machine Platform. In addition to cashless mobile payments, the platform supports offers and discounts, data and analytics, an operator app with sales dashboards and a real-time Web console, among other capabilities.

PayRange employs an engineering team in the Silicon Valley to create cutting-edge software for the vending and amusement industries. This has led to 24 patents that have been filed or issued in just the past two years. Since the launch, all software updates and features have been delivered to existing customers at no additional charge. The first BluKey sold has the same features as the ones being sold today, PayRange said.

"Our business model and pricing strategy have always followed four basic principles: First, low hardware cost. Second, low processing fee. Third, no monthly fee for the service. And fourth, no gimmicks," said PayRange founder and chief executive Paresh Patel. "Going forward, PayRange is committed to maintaining these principles. The reality is the software we offer today is not only much more than what we initially launched, but also feature-rich, when compared to other payment systems in the industry -- at a fraction of the cost."