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.