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Gone are the days of having to be tied down to a computer to process a payment in the world of small business. Thanks to a wonderful little idea called a Pay Anywhere card reader, you can actually accept payments anywhere that you can carry a smart phone. Pay Anywhere is certainly not the only player in the game where card readers are concerned, but they are the most respected. Despite the great reviews for this product, however, there are a handful of concerns as well. Here is a look at the pros and cons of Pay Anywhere:
Pros of Pay Anywhere card readers
The primary positive for these little card readers would be the fact that you can get paid anywhere. Just being able to whip out the little thing and swipe a credit card on the spot will give you great freedom as a small business owner. It provides convenience to the customer and at the same time gives you the flexibility to do business anywhere.
Another great reason to go with Pay Anywhere card readers is because it has the lowest transaction fees in the business. It is cheaper than any other credit card processor, thereby saving you and the customer money once again.
You can feel great confidence in the accuracy of this fine product, simply because it has been around longer than any other card reader service. It started way back in 1992 and continues to this day. That type of longevity can go a long way towards giving you confidence.
Finally, Pay Anywhere has a dedicated customer service line that can help you when you need it. Whether it is a technical problem or a customer service issue, Pay Anywhere is there to talk it over and work it out.
Cons of Pay Anywhere card readers
If you do a great deal of small transactions, then the transaction fees will not make a ton of sense. It would not be a cost efficient solution for your small business. Pay Anywhere generally charges 2.69 percent per swipe and then 3.49 percent plus .19 cent for any keyed charges. This is the best in the business, but it still can eat your profit if you sell very inexpensive products.
Another downer is that you are limited to an iPhone or an iPad if you want the full services that it offers. This is not something that kills the deal, but it certainly can be a problem if you want those extra features.
Many people worry about the security of Pay Anywhere transactions but the simple truth is they are safe. They are at least as safe as using a credit card at a POS register at your favorite business. Needless to say you will want to keep a close eye on your card and make certain it is not compromised. Other than that, you are as safe using this product as you would be at the grocery store.
Just as with any other new technology involving our credit cards there are advantages and disadvantages, but for many small business owners the advantages may be greater when offering a Pay Anywhere card reader to their buyers. The important thing is that both buyers and sellers keep the information on that card safe and secure.