Flea Market Zone
By Michael Alterio
Credit card processing company North American Bancard has been handling credit card transactions for nearly 20 years, and currently handles over 120,000 U.S. merchants. According to the company’s director of online marketing, Jeff Alderman, the “Pay Anywhere” program is well suited for many vendors. “PayAnywhere offers a free reader, a free app, with no monthly fees, and no cancellation fee. You simply pay as you use it,” he explains.
The company’s hardware is designed to be user friendly, and as with other providers, North American Bancard offers lower charges for swiped transactions, as opposed to those in which the credit card number is entered manually. “Your phone slides into a cradle reader. It can stand up on the table, or you can carry it in your pocket or purse,” Alderman explains. “There is no cancellation fee, and user functionality is high. You can swipe a card, so you are paying less that you would for key entry or calling it in.”
The company also offers a service that allows the vendor to track inventory and display products. Vendors can take photos of product, build a catalog, set a price, and add to inventory. “All that is free,” Alderman says. “We took a lot of enterprise level technologies and boiled them down so they are really relevant to small business users.” He mentions features such as a built in tip calculator, the ability to e-mail receipts, robust transaction reporting, and a sign-in screen for added security. It is easy to link geopositioning data to each transaction. There’s no application or set up fee, no monthly minimum, no contract or obligation. “It’s ideal for a seasonal business because you don’t have to pay monthly,” he adds.