Apple Partners With PayAnywhere for Universal Apple Pay Card Reader

[MacRumors]

Apple today announced the company is partnering with PayAnywhere for a new mobile NFC card reader that will be able to attach to iOS devices and support Apple Pay transactions in any retail location, in addition to traditional credit card support (via CNBC). The reader will be available exclusively in Apple Stores beginning in September, with the chance for merchants signing up with a new PayAnywhere account to get the first $5,000 in Apple Pay transaction fees for free.

"We are very excited to launch sales exclusively in Apple Stores throughout the country," said Marc Gardner, CEO of PayAnywhere, in a statement. "To demonstrate how simple and easy it is to accept Apple Pay, we have chosen to offer all customers the first $5,000 free in Apple Pay transaction processing with a new PayAnywhere account."

The new reader will allow smaller businesses to begin supporting Apple's mobile payments service without much hassle, with the company noting that there is no confusing set-up or monthly fees needed to bring the reader into a retail space. Like other mobile payment readers, PayAnywhere lets merchants add in tips and discounts, email or print receipts, and receive detailed data on "what, where, and when" customers are purchasing items in a shop.

Ever since its launch last October, Apple Pay has slowly gained new support at retailers and financial institutions nationwide, and even grown to support hundreds of thousands of merchants outside of the United States.

Article Link: Apple Partners With PayAnywhere for Universal Apple Pay Card Reader

 

[spiderman0616]

This is exactly what was needed for me to start seeing Apple Pay in local mom and pop stores. Good move.

 

[TheIguana]

Kinda a bummer that Apple iOS products don't already have all the required NFC antennas/chips to function this way without a bulky adapter.

 

[vdgroodt]

Yeah indeed, imagine this built in

 

[kylebshr]

Disappointed they didn't partner with Square — they have the best apps and hardware in my opinion, and already have a solution in the works: https://squareup.com/contactless-chip-reader

edit: fixed typo

 

[dontwalkhand]

Kinda a bummer that Apple iOS products don't already have all the required NFC antennas/chips to function this way without a bulky adapter.

The iPhone itself is not a PCI compliant credit card reader, hence the need for these adapters. Don't forget these adapters take regular chip and magnetic stripe cards as well.

 

[spiderman0616]

LOL at the people who are disappointed that the technology they just found out about today isn't already built into their iPhones.

 

[aajeevlin]

Disappointed they didn't partner with Square — they have the best apps and hardware in my opinion, and already have a solution in the works: https://squareup.com/contactless-chip-reader

edit: fixed typo

I don't quite understand this whole partnership stuff. It's NFC so either is from square or this other company it will work. From a technological point of view there is no problem. This is more of a PR than anything.

 

[taxiapple]

Costs?

 

[cariacou]

Can't find it anywhere (applestore, amazon,...).
no way to know the cost :/

 

[ronntaylor]

Smart move. Small and medium businesses really have no excuse now as in the long run the equipment will pay for itself. Especially with the $5K being free of fees.

 

[Alenore]

Smart move. Small and medium businesses really have no excuse now as in the long run the equipment will pay for itself. Especially with the $5K being free of fees.

Except maybe not owning an iOS device that can use it.

 

[rdlink]

Can't find it anywhere (applestore, amazon,...).
no way to know the cost :/

From the article (Emphasis added by me): "The reader will be available exclusively in Apple Stores beginning in September,..."

 

[jayducharme]

Just by reading the above description, I couldn't picture what this gadget did or how it worked. But their website is very clear. With one of these, an iPad (or iPhone or even a Touch) and an appropriate app, any store can accept any kind of payment. As others have said, it's similar to Square. But I like the design of the PayAnywhere device a lot more.

Edit: I just noticed the cost. It's $12.99 per month, plus their transaction fee. I thought it was interesting that if you use their standard hardware, the fee is 1.69% per transaction. But if you use ApplePay (or any other mobile payment system), that fee jumps to 2.69% (but apparently eliminates the monthly fee).

 

[ronntaylor]

Except maybe not owning an iOS device that can use it.

Buy an iPod. Equipement write-off. (I'm sure many of these small/medium businesses already have iOS devices) Especially with the savings from no fees for the first $5K in sales.

 

[jjjjcccc]

Disappointed they didn't partner with Square — they have the best apps and hardware in my opinion, and already have a solution in the works: https://squareup.com/contactless-chip-reader

edit: fixed typo

Whoops. My bad.

 

[aajeevlin]

Whoops. My bad.

Hence I said this is more of a PR article. I have known about the Square device for a few months now, not sure what is big deal here with this company. Plus it looks like with Square you won't even have to physically connect the device to your phone, I like their approach much better.

 

[digitalFlack]

For comparison, Square sent around an offer yesterday, an Apple PayNFC and chip'n pin device that appears to be the same size.

They advertise free, but that means they refund your first $49.95 in transactions fees. After that it's Square: no monthly fee.

Next announcement should be Paypal, only recently in the card reader market.

JF

 

[Rocketman]

$49

 

[Alenore]

Buy an iPod. Equipement write-off. (I'm sure many of these small/medium businesses already have iOS devices) Especially with the savings from no fees for the first $5K in sales.

If they have to buy stuff, they could as well get an actual reader. $5000 free is nice, but a bank fee is far from 2.69% per transaction. And it only applies for the first 6 months.

First $5,000 in Apple Pay transactions processed at no charge for six (6) months after account approval. Processing fees reimbursed via ACH credit. Offer applies only to merchants processing transactions using other payment methods in addition to Apple Pay, including but not limited to swiped and keyed transactions, at a commercially reasonable level.

If you're a small business and manage to have $5000 processing fee in 6 months, that means you've processed $185873.
Anyone who currently process that much already has another solution, meh thinks.
Otherwise, their offer is only here for the PR.

 

[samcraig]

Pretty sure I read that Apple tried to either buy Square or partner with them and failed.

 

[unplugme71]

Would be nice if this was a bit smaller like the square one. I love using Square btw

 

[bstpierre]

Would be nice if this was a bit smaller like the square one. I love using Square btw

Looks like it is about the same size as the new Square reader that can accept ApplePay and chip cards.

 

[tmiw]

If you're a small business and manage to have $5000 processing fee in 6 months, that means you've processed $185873.
Anyone who currently process that much already has another solution, meh thinks.
Otherwise, their offer is only here for the PR.

I think they mean $5000 charged, not $5000 in transaction fees. Thus ~$135.

 

[ronntaylor]

If they have to buy stuff, they could as well get an actual reader. $5000 free is nice, but a bank fee is far from 2.69% per transaction. And it only applies for the first 6 months.



If you're a small business and manage to have $5000 processing fee in 6 months, that means you've processed $185873.
Anyone who currently process that much already has another solution, meh thinks.
Otherwise, their offer is only here for the PR.

Many of these small businesses already have the equipment and it's really minimal costs. If money is an issue, buy used or refurbished. Making payments easier should/can increase sales. The transaction fee is as little as 1.69% for mobile use. And as another poster already stated, it's $5K in charges, not accrued fees.