The payments ecosystem is increasingly developing new technologies designed to add speed, security and convenience to the user experience. Starting in September, PayAnywhere, a mobile credit card reader will be available for purchase from Apple stores, North American Bancard announced last week.
Pay Anywhere is one of the most versatile mobile payment solutions in this space, enabling merchants and anyone who is looking to accept Apple Pay, other NFC and MST along with EMV-capabilities. The PayAnywhere Mobile reader converts an iPhone or iPad into a POS system and works in conjunction with the PayAnywhere Mobile app available free in the App Store.
“We are thrilled to offer PayAnywhere to sellers and business owners of all sizes and types, anywhere in the US. Customers will be able to purchase a solution which will enable them to accept Apple Pay on their iPhone or iPad. We are very excited to launch sales exclusively in Apple stores throughout the country,” said Marc Gardner, founder, president and CEO of North American Bancard. “To demonstrate how simple and easy it is to accept Apple Pay, we have chosen to offer all customers the first $5000 free in Apple Pay transaction processing with a new PayAnywhere account.”, the company shared via a press release..
While the company does not specifically pitch the product at a particular market segment, it is clearly targeted primarily at small businesses, who are likely to be most severely affected by the impending EMV requirements and the plethora of mobile payments options now prevalent in the marketplace. Below are some relevant stats from the latest Wells Fargo/Gallup Small Business Index survey which finds that only 32% of owners are aware of the pending changes.
While merchants of any size can offer a fast, real-time, frictionless checkout experience to their customers via the PayAnywhere service, these capabilities could be an even bigger opportunity for PayAnywhere to capitalize on the SMB (small and medium business) market share. EMV compliance is a concern that many small businesses are seeking affordable solutions to and there is a huge SMB market to cover.
PayAnywhere is much more than a way to get paid. Created by North American Bancard, an award-winning and industry-leading credit card processing company, PayAnywhere is dedicated to providing merchants with the tools their business needs for real success - a seamless checkout experience, low rates and faster funding, detailed real-time analytics, and live support. The PayAnywhere offering includes mobile payments solution PayAnywhere Mobile and mobile point of sale solution PayAnywhere Storefront.