Payanywhere Review for 2024: Features, Costs, and More

In the fast-paced world of commerce, businesses rely on efficient payment processing solutions to ensure a seamless cash flow. Payanywhere emerges as a contender, offering mobile processing services designed to accommodate various merchant needs. Its services include accepting credit and debit card payments in-store, online, and on the move. In this comprehensive review, we delve into the intricacies of Payanywhere, exploring its offerings, features, hardware compatibility, pricing models, fees, and pros and cons.

What Is Payanywhere? An Overview

Payanywhere is a mobile processing service that enables businesses to accept credit card payments online and in person. Notably, it stands out with custom fees for all business sizes, departing from industry norms of volume-based pricing. The platform offers an exceptional website experience, simplifying pricing and enhancing transparency.

Launched in 2011 by North American Bancard Holdings, Payanywhere serves a range of businesses, from retail to food trucks. Beyond payments, it offers invoicing, reporting, and management tools.

Noteworthy, limited integrations and occasional early termination fees should be considered. Many merchant complaints indicate that its customer support isn’t the best either. Some other aspects of Payanywhere’s offerings have also drawn criticism. Such are the concealed fees in its “free placement” equipment offers.

Payanywhere Feature Breakdown

Probably its most prized asset, Payanywhere offers many features for businesses of any size. These features include a virtual terminal, detailed analytics and reporting functionality, recurring billing and invoicing, inventory & employee management, and integration capabilities.

Payanywhere offers a virtual terminal for businesses that do not use physical payment terminals. This tool enables secure internet-based payment processing from any computer. Suited for e-commerce, phone/mail orders, and professional services, it allows computer-based payment acceptance. This involves manual card input or Bluetooth-connected card readers for swipe/chip payments. It also sends digital receipts via email/SMS and manages customer data directly from the virtual terminal.

Payanywhere provides real-time payment insights and enables access to comprehensive historical sales and trend data across multiple devices. It also streamlines chargeback management, documentation uploads, and dispute resolution. Furthermore, Payanywhere offers complimentary reporting and analytics tools for trend discovery

, facilitating thorough reviews of sales volume, payment types, and customer transactions. With them, you stay informed about disputes and upload vital documents when necessary. Flash reports swiftly display net sales, discounts, tax implications, tips, voids, and other key details.

Payanywhere simplifies invoicing and recurring payments, allowing the creation of one-time and repeating invoices for online settlement. Customization spans payment amounts, schedules, frequencies, due dates, and reminders delivered via email or text. A branded payment portal is a gateway and access point for transaction history, receipts, and payment method updates. Invoices are effortlessly dispatched through the app or payments hub and are customizable with logos and contact details. Recurring invoice customers can choose autopay, with fees of 3.49% plus 19 cents per transaction.

Payanywhere offers a comprehensive suite for seamless business management, covering sales, monitoring, and easy bulk inventory restocking. It showcases versatility with diverse price variants, item categorization, and discounts. Additionally, complimentary staff tools aid in efficient management, supporting hiring, scheduling, and payroll with role-based access. Notably, Payanywhere offers this for free within its POS software, encompassing custom roles, performance monitoring, and comprehensive report generation, aspects often charged separately by competitors.

Although Payanywhere offers integration options, they are somewhat limited compared to other payment processors. However, you can establish connections between Payanywhere and platforms like QuickBooks, Homebase, GRUBBRR, GiveHub, and more. For example, you can export data to QuickBooks Online for transaction synchronization and integrate with scheduling software like Homebase.

Payanywhere Hardware Options

PayAnywhere provides an array of hardware options for your business needs. For first-time customers, a basic Bluetooth 3-in-1 magstripe and EMV mobile reader is available for free. Additional readers can be obtained at a cost, and there’s an option to upgrade to a Bluetooth 3-in-1 magstripe, EMV, and NFC mobile reader for $59.95. These readers connect to your smartphone with the Payanywhere App. Here are all the Payanywhere hardware options:

• Smart Terminal Mini: Featuring an integrated magstripe, EMV, and NFC reader, this device includes a touchscreen keypad for PIN debit transactions. It lacks a receipt printer and costs $349.95 to purchase, along with a $14.95 per month software subscription fee.
• Smart Terminal: Available for $349.95, this option requires a $14.95 monthly subscription fee and includes all the features of the Smart Terminal Mini, plus a built-in receipt printer.
• Smart Flex: For $549.95, you can upgrade to this slightly larger device with functions similar to the handheld Smart Terminal, along with a customer-facing second screen. Setup entails a one-time fee of $49.95, along with a $24.95 per month software subscription fee.
• Smart Point Of Sale: The high-end choice is the Smart Point of Sale+ at $949.95. It boasts a 12.5″ HD touchscreen, a 4.3″ customer-facing second touchscreen, a barcode scanner, and a receipt printer. Setup for this model includes a one-time fee of $99.95 and a $44.95 per month software subscription fee.

Payanywhere also provides accessories, including a Bluetooth barcode scanner ($24.95), receipt printer ($119.95), cash drawer ($74.95), and Smart Terminal Dock ($170). The receipt printer and cash drawer are Android-only.

In addition to purchasing hardware, Payanywhere offers a “free placement” option for those on the Custom pricing plan. This allows usage without cost but requires return when no longer in use.

Note: Merchants can purchase or rent the hardware.

Payanywhere’s Fees & Pricing Model

Payanywhere provides two pricing plans for merchants: the Pay As You Go plan and the Custom plan. These options cater to different business needs.

The Pay As You Go plan best suits merchants processing up to $10,000 monthly. The fees are as follows:

• In-Person Transactions: 2.69% per transaction.
• Keyed Transactions, Virtual Terminal, Invoicing, and Recurring Payments: 3.49% + $0.19 per transaction.

Additionally, an inactivity fee of $3.99 per month is charged after 12 months without processing any payments.

While the Pay As You Go plan offers competitive fees, it may not be the most cost-effective option for all businesses. This is because most other providers almost always include some free software and services.

Payanywhere’s Custom plan offers a more tailored approach. This plan includes provisions for various fees, such as PCI compliance, chargebacks, monthly minimum processing, and more. Additionally, you can find certain card industry pass-through fees in the User Agreement. All the other fees aren’t disclosed.

The Payanywhere app is free, but monthly software fees range from $14.95 to $44.95 to utilize devices. The app is compatible with most smartphones and tablets.

Merchants surpassing $100,000 in annual sales might encounter changes in fees.

Pros of Choosing Payanywhere

Payanywhere stands out as an all-in-one solution for merchants seeking versatile payment processing. This credit card processing service enables businesses to accept online and in-person card payments. Its unique custom fee structure caters to businesses of all sizes. Notable for its commitment to transparency, Payanywhere offers a streamlined website experience that simplifies pricing information.

While the platform charges monthly software fees for utilizing devices, it’s still a versatile solution since it allows users to choose the hardware that suits their needs. Additionally, the “free placement” option under the Custom plan allows businesses to use hardware without an initial cost.

Cons of Choosing Payanywhere

Payanywhere does provide integration options, allowing connections with platforms like QuickBooks, Homebase, GRUBBRR, GiveHub, and more. However, it’s important to note that Payanywhere’s integration capabilities are somewhat limited compared to some other payment processors. This limitation in integration options might impact businesses relying heavily on specific software solutions for various operations. A wide range of integration options ensures that businesses can streamline their processes by connecting their payment processing with other essential tools.

Despite the company’s detailed pricing breakdown on its website, there are accounts of extra charges like a $25 chargeback fee, a $25 NSF (Non-Sufficient Funds) fee, and a $15 “Retrieval” fee with unclear specifics.

Furthermore, the contract refers to a fee schedule provided during signup. These extra fees are conspicuously absent from the Payanywhere website and are not found on the support page or in the contract documents. This lack of transparency prevents merchants from thoroughly assessing and comparing fees against other payment processors before committing.

For Payanywhere’s Custom pricing plan, there’s no information about associated fees and rates available. To learn more, potential customers need to call, likely after disclosing sales figures. While this may suggest rate negotiation, it also opens the door for persistent follow-ups from representatives.

The Payanywhere contract raises concerns regarding termination fees, contract terms, and customer service. The contract merges two agreements, with the second contract’s terms concealed until a thorough review of the User Agreement. This opacity can result in unexpected cost changes upon upgrading to a full-service merchant account.

The direct merchant arrangement extends the contract to three years, with early termination subject to a fee of $295 or outstanding monthly fees. North American Bancard can also terminate, charging a $500 account closure fee and potentially withholding funds. Merchants have 45 days to cancel after transitioning to a direct merchant account. Opting for pay-as-you-go avoids term and termination fees, whereas custom pricing may result in a contract of up to three years, with potential termination fees.

Upon sign-up, users engage with the standard contract in the Legal section, permitting cancellations without penalties, except for Section 8. This section mandates direct agreements if specific processing thresholds are exceeded, such as $1 million in American Express charges in 12 months or $100,000 in three months. Similarly, surpassing $100,000 in processing volume for Visa, Mastercard, Discover, or PayPal triggers an automatic conversion to a direct merchant, introducing new terms and fees.

Customer service reports vary, citing responsiveness but inconsistent issue resolution. Support includes email, phone, and live chat, although live chat responses may be delayed. Self-help resources are available in the content library, while support hours remain undisclosed. Customer feedback suggests mixed service quality, including limited online chat scope, slow email responses, and long phone wait times.

In March 2017, PayAnywhere faced a class-action lawsuit in California titled Gerald McGhee v. North American Bancard LLC. The lawsuit accuses Payanywhere of engaging in fraudulent business practices, including intentional misrepresentation, unjust enrichment, and breaching good faith and fair dealing. As of now, the case remains unresolved. Given this legal situation and North American Bancard’s other legal challenges, business owners contemplating the Payanywhere platform may have valid concerns.

Best Alternatives to Payanywhere

Square offers a great Payanywhere alternative with its user-friendly setup, transparent pricing, and adaptable cloud-based point-of-sale system. The simple sign-up suits small businesses, while the versatility caters to various devices and payment methods. Despite its appeal, businesses should assess unique needs and preferences before committing, as Square might not suit all scenarios. Here’s a side-by-side cost comparison between Square and Payanywhere:

Costs	Square	Payanywhere
Hardware	Free – $799	Free – $950
Software	Free – $29	$15 – $45
In-person fee	2.6% + $0.10	2.69%
Online fee	2.9% + $0.30	3.49% + $0.19
Invoicing fee	3.3% + $0.30	3.49% + $0.19
Keyed-in fee	3.5% + $0.15	3.49% + $0.19
Inactivity fee	N/A	$3.99/mo
ACH Fee	$1	N/A

Clover is another great Payanywhere alternative with its versatile POS system suitable for diverse industries and business sizes. Tailored for retail, professional services, personal services, and home & field services, Clover’s software plans cover essential elements like credit card processing and sales tracking. Clover’s system features low processing fees, robust features, and a user-friendly design with 24/7 customer support. Here’s a side-by-side cost comparison between Clover and Payanywhere:

Costs	Clover	Payanywhere
Hardware	$49 – $ 1,799	Free – $950
Software	$14.95 – $114.85	$15 – $45
In-person fee	2.3% + $0.10 / 2.6% + $0.10	2.69%
Online fee	3.5% + $0.10	3.49% + $0.19
Invoicing fee	N/A	3.49% + $0.19
Keyed-in fee	3.5% + $0.10	3.49% + $0.19
Inactivity fee	N/A	$3.99/mo
ACH Fee	N/A	N/A

Making the Choice: Is Payanywhere Suitable for Your Business?

Payanywhere is a versatile mobile payment solution for businesses to take credit card payments online and in person. It offers custom fees, transparent pricing, and an intuitive interface. It also serves a range of industries with invoicing, reporting, and management tools. Payanywhere also has features like a virtual terminal, detailed analytics, recurring billing, and inventory management. The platform offers the Pay As You Go plan and the Custom plan, each with unique features and fees.

Still, limitations exist, including restricted integration options and reports of hidden fees. You should also be careful of long-term contracts. Whether or not it’s for your business depends on operational needs, budget, and preferences. You’ll need to evaluate integration, fees, and comparisons to alternatives like Square and Clover to make an informed choice.

Finding a reliable mobile processing solution can be challenging. If you want your business to thrive, though, you need to be able to accept payments on your phone to keep up with customers’ needs. At PaymentCloud, we offer you the support you need to accept mobile payments with no hassle. Contact us today to see what we can do for your business!

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