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dard with a bit map architecture and discretionary data fields that duced a mobile app to make laundromat com-
restrict interoperability and new payment card functionality. By merce easier, simpler and faster by replacing coin
contrast, the newer ISO2022 standard facilitates better integrated hoarding. Several months later, when businesses
services, he pointed out. shuttered during the coronavirus pandemic, the
company added a pay-later feature to the app,
"ISO2022 is offering building blocks for each stakeholder from the which enabled users to use washers and dryers
finance industry to build better integrated services, unconstrained if the app declined their credit card transactions.
by technical dependency on their partners or domestic integration
complexities," Camerling said. "This is just one example of stan- Blending into the background
dardization in payments; Android is another example, from the Paresh and other payments leaders have ob-
apps and content side." served that apps are following a similar trajec-
From app to ecosystem tory to payments as they are absorbed into ev-
eryday activities. When Uber and Starbucks
Paresh Patel, CEO of PayRange Inc., observed that early app mar- launched their mobile apps, people were excit-
ketplaces focused on digital experiences. Consumers used apps for ed about using them. Today, consumers expect
social media, online shopping or reading the news. These digital their apps to provide instant gratification via
experiences were consumed entirely online, he noted. smartphones and connected devices.

"Today's apps are increasingly integrating digital and real-world In a recent interview on FinTech Forward 2020, a
experiences," Patel said. "For example, you can use apps to order virtual summit produced by Board Studios Inc.,
ahead and physically pick up your shopping or to make in-person Patel pointed out that early app developers tried
payments or reserve a parking spot." PayRange is active in this to maximize the amount of time that consumers
movement, bringing the "online" experience to "off-line" things in spend on their apps. "For us, it's the exact oppo-
the real world, Patel stated. In February 2020, the company intro- site. We want consumers to download and use
the app without even thinking about it," he said.

As he looked ahead at the PayRange near-term
roadmap, Patel suggested the company will con-
tinue to expand beyond self-attended commerce
into the broader micropayments ecosystem. Like
before, when he identified ways to better serve
machine operators, consumers and communities
by providing smarter unattended solutions, Pa-
tel sees gaps in micropayments.
Universal access
Our ISO  Exclusive low cost Bill&Pay "What is missing in the micropayment space is a
solution that goes across industry boundaries,"
electronic invoicing pricing
& ISV  Robust, cost effective Patel said. "Vending machines may have one
solution, parking may have another, laundry
i3 Transafe gateway with
Partners  Multiple pricing options including still another." PayRange strives to build a single
seamless integration
point, universal solution that works across any
Enjoy surcharging and flat rate type of small-ticket transaction that the consum-
er would like to make, Patel added. The consum-
 Complimentary statement er will not want to have 10 different apps, each
analysis with its own account credentials and stored pay-
 L2 & L3 interchange savings for ment credentials to make 10 different $1.50 or $2
B2B merchants transactions over the course of a week.
 Choose from numerous
platforms and sponsor banks "This is the classic case of where a network can
 NDF cutoff times as late as 11pm help both the consumer and merchant alike," Pa-
tel said. "PayRange is building the largest small-
ticket payment network for everyday purchases."

A better sandbox
Technology driven. Human powered.
Another lasting benefit of apps and app mar-
Contact Us ketplaces is their ability to generate continuous
ISORecruitment@i3verticals.com iterative innovation. Unlike the old days, when
hardware and software rolled off assembly lines
and onto merchant countertops, today's digital
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