From time-to-time MTAM will feature articles from Michigan-based mobile technology firms who can provide interesting insights or educational information about the use of mobile /wireless technologies. We encourage your review of these articles and hope you will gain value from the information provided. Today’s featured article is from Troy-based, North American Bancard, provider of the PayAnywhere mobile payments solution.
by Brooke Tajer, North American Bancard
Using a mobile point-of-sale solution, like Michigan-based PayAnywhere, is not only smart, it’s cost-effective and, in most cases, can result in better business practices. PayAnywhere is one of the premiere mobile solutions on the market.
Mobile payment solutions offer many advantages, with the most obvious being the ability for previously cash only businesses to accept credit card transactions with a pay-as-you-go pricing model.
“It’s historically been cost-prohibitive for many small businesses to accept credit cards due to high upfront equipment costs and monthly account fees, so they would operate in a cash only environment,” Terri Harwood, Chief Operating Officer of North American Bancard and PayAnywhere, said. “The emergence of mobile payment acceptance has removed those cost barriers, allowing all businesses to benefit from card acceptance, and in turn, realize higher sales because when customers shop using credit cards they tend to spend more money than when using cash only.”
So how can the ability to take payments through your phone or tablet help increase your business’s profits and customer satisfaction?
Get paid anytime, anywhere
PayAnywhere gives you the ability to make a sale wherever you are, with all the security and reporting options that were previously only available to brick and mortar storefronts. Whether you’re at your store, a sporting event, farmers market or someone who works on the go – mobile payment solutions like PayAnywhere give you the freedom to do business where you want, when you want.
Mobile point-of-sale systems in general, and PayAnywhere in particular, can replace traditional cash registers and payment devices, and provide more services with a lower total cost of ownership. PayAnywhere makes selling as easy as using a smartphone, and enables both retail, service and hospitality employees to start taking payments without having to spend time on training.
Another perk of mobile payment solutions is the reporting included with the programs. For example, every PayAnywhere account includes access to a cloud-based merchant portal, “PayAnywhere Inside”. Within the portal, business owners can access data about their business, in real time, from any device with an internet connection. This simplifies record keeping, bank reconciliation and cash management. It also tracks customer email addresses, which can than be used to gather information about customer sales, and for marketing purposes by the small business owner.
It’s fast, and secure
Mobile payment solutions really shine at times when your business is busy, like during the holiday season or at a popular event. The ability to move around your store, or space, and immediately help customers improves both checkout wait times, and customer satisfaction.
These mobile point-of-sale programs, including PayAnywhere, allow small businesses to tailor the checkout experience to the customer, wherever that customer happens to be. They also allow you to broaden your customer base by providing options for them to pay however they want.
Here in Michigan, for example, PayAnywhere has enabled Palace Sports & Entertainment to deploy smartphones for card acceptance at all venue parking facilities. The ability to switch from taking cash only, to cash and credit has improved customer satisfaction and business efficiency during peak times.
Finally, solutions like PayAnywhere are safe to use.
PayAnywhere uses point-to-point encryption on all data collected. It’s also a registered payment card industry (PCI) compliant level 1 service provider – this is the highest level of PCI compliance achievable.
How to get started
To get started with PayAnywhere, you simply need a compatible Apple or Android device. Once you have one in hand, you can sign up for an account through our website or the mobile app. The app is available, for free, from the App Store and Google Play.
If you have any questions, PayAnywhere has live customer support that can be reached by phone, or through email and live chat on the PayAnywhere website. The team is highly experienced and local, right here in Michigan.
“PayAnywhere is about improving merchants experiences with their customers, so we took that approach in-house and have created a dedicated staff that is specially trained to help small business owners make the most of the state-of-the-art tools we provide. They are here to not only answer questions, but to educate those new to credit card processing,” Harwood said.
Business owners can also easily add additional users to their PayAnywhere account through the online portal with unique login credentials, allowing multiple people to accept on their behalf.
All of this, coupled with the lowest transaction fee in the industry – just 2.69% per swiped transaction, means small businesses get the latest and greatest technology while increasing their sales.
For more information on PayAnywhere, visit www.payanywhere.com or call 877-387-5640.
Since 2011, PayAnywhere has been providing small business owners an alternative mobile solution for credit card processing. PayAnywhere’s mobile point of sale (POS) technology combines the industry’s most comprehensive enterprise-grade features with live customer support. From billion dollar enterprises to the local artisans, merchants of all sizes turn to PayAnywhere for highly secure, feature-rich, affordable mobile payments systems that expand and enrich their ability to conduct business.