At the annual Consumer Electronics Show in Las Vegas, NV, payment card swipers are all the rage. In fact, the gizmos have been available at various storefronts throughout the past year.
However, once of the latest options on the mobile payment market, PayAnywhere, has set their sights high by asserting their intention to outpace the extremely popular app Square. They may, in fact, be poised to do by directly addressing the security concerns of consumers as well as offering an appealing variety of features tailored to meet the needs of business owners.
Both Square and Intuit GoPayment set the bar by availing those who register for their app of the necessary card-swiping accessory for free and PayAnywhere does the same. After that, GoPayment’s per-transaction fee is lower than that of both its competitors at 2.69% per. Square’s fee sits at 2.75% per transaction and Intuit GoPayment charges users 2.7% per card swipe and 3.7% for card numbers keyed in manually.
Currently, the PayAnywhere app is available on both Android and iOS. In two weeks time, the latest version will be released alongside a new app for BlackBerry users.
At CES, there was a demonstration of the app which revealed an interface that is very user-friendly. It allows for a point-of-sale system set up of fixed items, which would be useful in situations such as a restaurant that features a menu offering the same items every day. Merchants have the capability to log in from anywhere are will receive alerts if there is ever a duplicate transaction or an extraordinarily high receipt average. All of those things are extremely helpful for business owners who must oversee several employees.
PayAnywhere is both PCI-compliant and encrypts the data for every single transaction. These are two important features that should go a long way to reassure any customers who may be hesitant to partake of the new technology. Square notably was chastised back in the beginning of May 2011 by security company viaForensics when they discovered that the app did not store the last four digits of customers’ credit card numbers securely.
Another feature which sets PayAnywhere apart from other mobile payment processors on the market is that it allows merchants to record transactions while offline and then goes ahead and process them whenever a connection is established to the Internet again.