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How to Save Money by Taking Credit Card Payments on the Go


Small businesses, especially those that are home-based or on-the-go (think food trucks, farmers markets, craft fairs, etc.) have always been limited by options for taking payments. For home based businesses, 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. Like their relative, the traditional credit card processor, new mobile systems have the advantages of non-immediate financial impact to consumers, reliability and convenience, but they take it one step further giving businesses the freedom to accept payments anywhere.

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

WAHM has partnered with Pay Anywhere 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 Pay Anywhere for your home business.

To learn more about mobile credit card processing and the Pay Anywhere package, read on!

Consumer mind-set

Numerous studies conducted by credit card giants Visa and MasterCard, confirm that consumers spend more per transaction with credit cards 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.

Pay Anywhere

Through our research, we discovered Pay Anywhere, a convenient and affordable mobile payment system created specifically for the needs of the small business. The Pay Anywhere system is completely secure as it's backed by the North American Bancard and has over 20 years of credit card processing experience. Additionally, Pay Anywhere 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 Pay Anywhere works

Download the free Pay Anywhere 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 Pay Anywhere, 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 Pay Anywhere?

Certainly there are several benefits to mobile credit card payment systems for home and on-the-go businesses. Between the free card reader, ease-of-use, security factor and fixed fee scale, consider Pay Anywhere for your credit card processing needs.

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