Credit card processing solutions provider North American Bancard (NAB) has announced a new version of its PayAnywhere Mobile card reader. The device will be available in Apple Store starting in September.
PayAnywhere is a peripheral device that essentially turns an iPhone or iPad into a POS system, allowing it to process payments via NFC, EMV-enabled cards, magnetic stripe credit cards, and even Apple Pay. It doesn’t require any monthly or setup fees, and in fact NAB is currently offering a special promotion in which merchants can get $5000 in free Apple Pay transaction processing. In a statement announcing the upgraded credit card reader, NAB CEO Marc Gardner pointed to the vast market that could benefit from its capabilities: “We are thrilled to offer PayAnywhere to sellers and business owners of all sizes and types, anywhere in the US,” he said.
With contactless payments and Apple Pay mPayments on the rise, it’s a timely offering. But PayAnywhere will also face increasingly stiff competition as other companies seek to capitalize on these trends; for example, PayPal just launched its own upgraded POS device called PayPal Here, an inexpensive offering for merchants that provides similar functionality, but under the very strong PayPal brand.
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