PayAnywhere Overview
PayAnywhere is a mobile payment processing and tablet-based POS service from North American Bancard. It was launched in 2011 as a direct competitor to Square and has since managed to carve out a large enough user base to remain a major player in the smartphone payments market. PayAnywhere is a North American Bancard product, but transactions through PayAnywhere are ultimately handled by North American Bancard’s primary backend processor, Global Payments. PayAnywhere provides a free headphone jack card reader and mobile app for processing payments through compatible iPhones and Android devices, and the company recently launched a storefront point-of-sale app that comes with a free dedicated touchscreen tablet.
PayAnywhere’s mobile processing app includes support for unlimited users and built-in sales analytics. Its point-of-sale application offers the same features. PayAnywhere distinguishes itself from Square by offering live phone support in addition to email and chat support for its users. PayAnywhere Storefront also comes with a $12.95 monthly fee and charges a $79 monthly volume fee in any month in which the merchant processes less than $5,000. Troy Gardner is the founder and CEO of PayAnywhere.
PayAnywhere is a mobile credit card processing service powered by North American Bancard. It offers a tablet-based point-of-sale system in addition to its mobile phone card readers.
PayAnywhere processes all major credit and debit cards for all business types, and also has hardware offerings such as smart terminals, smart point-of-sale, mobile readers, and accessories.
PayAnywhere is North American Bancard’s answer to Square. The service launched in 2010, but has gained significant media attention.
The company has received more than 300 public complaints and has an “A+” rating with the Better Business Bureau.
PayAnywhere is a smartphone app with no setup fees, no monthly fees, or cancellation fees. It offers flat rates of 2.69% for debit or credit card swipes or 3.49% plus $0.19 for keyed transactions.
PayAnywhere Storefront charges 1.69% per Qualified swiped transaction, 2.69% per Non-Qualified swiped transaction, and 3.69% plus $0.19 per keyed-in transaction, in addition to a monthly minimum of $79 for volume less than $5,000.
PayAnywhere has received a consistent stream of complaints regarding its cash reserve and termination policies. The company appears to withhold payments in anticipation of potential chargebacks without any notice.
PayAnywhere’s terms of use allow it to establish reserve accounts, and merchants complaining about this policy should consider using a top-rated mobile credit card processing app.
PayAnywhere is a scam. The company holds funds to reduce the risk of fraud, which has resulted in numerous complaints from merchants that are seemingly legitimate.
Merchants report that PayAnywhere charges other fees in addition to the processing fee, including a $25 chargeback fee, $25 NSF fee, and $15 “Retrieval” fee.
A class-action lawsuit regarding fraud, unjust enrichment, and breach of good faith and fair dealing was filed in March 2017 against PayAnywhere.
PayAnywhere provides poor customer service, and its customer service number is not a top-rated number. PayAnywhere also offers live chat, a chatbot, and a support library on its website.
The BBB holds an “A+” grade for Pay Anywhere, which is not accredited. 5 of the 15 complaints were resolved to the satisfaction of the merchant, 8 were billing or collections issues, 1 was a delivery problem, and 1 was an issue with advertising or sales.
PayAnywhere uses only public relations, advertising, and referrals from North American Bancard.
Merchants have reported that PayAnywhere holds large amounts of funds without prior warning to mitigate risk and that the company takes a long time to release the funds.
PayAnywhere rates as an average mobile payment processor according to our rating system, but there are reports of poor customer service, misunderstanding of charges or confusion in the way PayAnywhere bills fees.
At a glance
Founded: 2011
Location: Troy, Michigan
Acquiring bank: Wells Fargo Bank, The Bancorp Bank
Website: payanywhere.com
Phone number: 877-387-5640
E-mail: [email protected]
PayAnywhere Promotional Video
Online reputation and reviews
PayAnywhere has received over 300 complaints on various consumer protection websites during its five years of operation. The largest source of complaints is the company’s fund withholding policy, as most complainants claim to have had their transactions frozen without any advance notice or timely resolution. Other themes mentioned by complainants include unexpected monthly fees and poor customer service. Generally speaking, the advantages provided by PayAnywhere’s live phone support appear to be negated by the company’s monthly fees and fraud prevention policies.
Legal actions and lawsuits
There are no outstanding or recently resolved legal actions related to PayAnywhere at this time.
Have you used PayAnywhere for your business? Rate the company at the top of this post and tell us about your experience in the comment section below:
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