PayRange Inc., a network for everyday purchases, has launched a program to support to payment app users at apartments, dorms and other unattended retail locations as they navigate through the COVID-19 virus outbreak, according to a press release. The program will allow loyal consumers to use vending machines, washers and dryers even if their card is declined due to insufficient funds, allowing the user to repay at a later date.
The coronavirus pandemic is placing added financial stress on this population, keeping people from their jobs, and thus creating a greater likelihood of running into the problem of insufficient funds, according to the press release.
"Imagine how frustrating it would be to take a basket of clothes to the common area laundry room, only to have your card declined. In these trying times, we want to save people from yet another inconvenience," Paresh Patel, founder and CEO of PayRange, said in the press release. "By creating this feature in the PayRange app, we’re letting our loyal customer base know we understand their struggles and support them, especially during this public health crisis."
PayRange will be covering the cost of the program at its own expense; the machine merchants will be paid in full at the time of the transaction, according to the press release.
Recent studies show about 70% of mobile payment usage in laundry is linked to a debit card, as opposed to a credit card, the press release noted.