Small businesses, especially home-based and those on the go (think food trucks, farmers markets, craft fairs, etc.) have always been limited by options for taking payment. Checks and PayPal are usually preferred over cash, but due to high and often unreasonable fees, taking credit card payments has been out of reach for many. Now, thanks to mobile technology and the proliferation of smart phones, there is a new breed of mobile credit card processing systems available. Relative to a traditional credit card machines, mobile versions have shared advantages, such as non-immediate financial impacts to the consumers, reliability and, of course, convenience.


There are a few choices when considering credit card payment options such as "Square" and "PayAnywhere," but each has different strengths. Do your homework and decide what option is best for you.


WAHM has partnered with PayAnywhere because we believe they offer one of the best products on the market today. Between their low and straightforward fees and their backing from a reliable bank, WAHM recommends checking out PayAnywhere for your home business.
To learn more about mobile credit card processing and the PayAnywhere package, read on!


Consumer mind-set
Numerous studies conducted by credit card giants Visa and MasterCard, confirm that credit card purchases are considerably higher than those made with cash or check. For many, credit cards are like using "play money." Charging purchases does not have immediate impacts on a consumer's wallet, as does shopping with cash.


Credit card choices
In general, accepting credit card payments can be a pricey option for any business. There are often times hidden and obscure fees associated with credit card processing that cover operating costs of the credit card parent company. When choosing a credit card payment processing company for your business, it is imperative to partner with one that has documented, predictable fees; by choosing a company with fixed rates, you will save you a tremendous amount of money over the long-term. Look for a company that offers a flat, predictable fee scale. A fair option is to pay a small fee per transaction, plus a 2 to 3% fee based on the total transaction dollar value. Do the research and find a reliable company that both meets your home or on-the-go business needs and clearly presents all costs of doing business up front.


PayAnywhere
Through our research, we discovered the most convenient and affordable mobile payment system on the market today is PayAnywhere. The PayAnywhere system is completely secure as it's backed by the North American Bancard and has over 20 years of credit card processing experience. Additionally, PayAnywhere offers 24/7 support for all users. By using a simple card reader attachment for your "smart device," specifically your Apple iPhone 3G, 3GS or 4, Apple iPad or iPod Touch, you can accept credit card payments anywhere at any time. Android and BlackBerry applications will be available soon.


How PayAnywhere works
Download the free PayAnywhere application from the Apple App store. Once your account is approved, a card reader will be supplied free of costs. Other companies charge up to $149.95 for similar devices. After each credit card swipe, payment for your transactions will appear in your bank account within 24 to 48 hours.


With PayAnywhere, the fees are fixed. With a flat fee of 19 cents per transaction, plus a 2.69% transaction fee for every credit card swipe or 3.49% for keyed transaction entries, you know what to expect. A swiped transaction occurs when a credit card is physically swiped through the card reader, while a keyed transaction applies when credit card information is hand-typed into the system. There are no set-up, application, monthly service or cancellation fees, plus there are no monthly minimum requirements.


Why PayAnywhere?
Between the free card reader, ease-of-use, security factor and fixed fee scale, the benefits to selecting PayAnywhere as your credit card payment processing company are clear. Go ahead and sign up today. Get your business transactions in order on your "smart device," and you will be thanking us for helping you discover PayAnywhere.