Credit Card Payments Come to Schools - Products News


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Credit Card Payments Come to Schools

Credit Card Payments Come to Schools
The content is accurate at the time of publication and is subject to change.

PayAnywhere, a mobile payment service provider, has partnered with PTO Today, a parent-teacher support group, to allow schools to take credit card payments for everything from field trips to fundraisers. Previously, PTO Today had endorsed Square as a mobile payments provider, but did not have an official agreement with them.

Mobile card reader services let parents make donations or pay for school sale items with their credit or debit cards. The school’s Parent Teacher Association (PTA) or Parent Teacher Organization (PTO) can sign up for the mobile payment service, which charges a competitive per-transaction fee, but has no monthly or annual fee.

PTA and PTO groups will be able to accept credit card payments for everything to donations and school merchandise with PayAnywhere – or by using any of the many mobile card readers available.

Many options for mobile card readers

PayAnywhere offers essentially the same service as Square, PayPal Here, PaySimple, and other mobile payment providers on the market. The fees differ slightly between companies and the services are structured differently. For instance, PaySimple, a new addition to the mobile card reader market, requires customers to sign up for a monthly plan in addition to paying a percentage of each transaction.

Many of the services mail out the readers free of charge and do not require a subscription or start-up fee to use. PayAnywhere offers a free card reader and charges 2.69% of each transaction. Funds are deposited into the payee’s account immediately and are usually available the next business day.

In comparison PayPal Here charges 2.70% of each transaction and Square charges 2.75% of each transaction. Neither of them charge for the card readers. PaySimple charges $6.95 shipping and handling to get the reader, requires a monthly subscription with a fee of either $15.95 or $39.95 depending on the membership level, and charges either 3.49% + $0.39 or 2.49% + $0.29 for each swipe.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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