2022 Payanywhere Review: Is It Right for You?
Meaghan has provided content and guidance for indie retailers as the editor for a number of retail publications and a speaker at trade shows. She is Fit Small Business’s authority on retail and ecommerce.
Anna’s experience in business and finance led her to work for a US risk mitigation company in Singapore. She has contributed to POS and payments topics in the Retail section across Fit Small Business.
This article is part of a larger series on Payments.
Payanywhere is an all-in-one merchant account services provider owned by North American Bancard, with solutions for online, in-person, and mobile transactions. Features include recurring payments, invoicing, inventory and employee management, and a virtual terminal. You get your first card reader free, and processing rates are favorable for low order values with no monthly fee.
Because most negative reviews highlight the lack of advanced features and system bugs when using tools like fingerprint ID, we recommended Payanywhere for low-volume businesses looking for a simple alternative to Square’s mobile payment processing app.
Payanywhere
What We Like
- Low fees on small transactions
- No chargeback fees
- Free same-day and next-day funding
- Autopay for subscriptions and recurring payments
What's Missing
- Possible long-term contracts with hefty early termination fees
- Lacks echeck and ACH processing
- Platform is reportedly unstable and has frequent updates that interfere with performance
- Charges an inactivity fee
Deciding Factors
- Monthly Payment Processing Fee: $0
- Transaction fees for Pay-as-you-go:
- Swipe, Dip, or Tap Transaction Fee: 2.69%
- Keyed-in Transaction Fee: 3.49% + 19 cents
- Invoicing and recurring payments: 3.49% + 19 cents
- Virtual terminal payments: 3.49% + 19 cents
- Inactivity Fee: $3.99/month after 12 months of inactivity
- Transaction fee for Long-term: Custom
- Long-term contract length: 3 years, with 1 year auto renewal
- Early termination fee: From $295
- Chargeback Fees: $25
- Free next-day and same-day funding
- Hardware: From $29.95 (first mobile card reader is free)
When to Use Payanywhere
While account instability and inactivity fees prevented Payanywhere from making our list of the best merchant services for small businesses, it’s a good solution for low-volume mobile payment processing. Payanywhere’s tools are best suited for food businesses, merchants that sell inexpensive items, and small-scale mobile payment processing.
In particular, Payanywhere is best for:
- Businesses looking for a free merchant account: Payanywhere offers a pay-as-you-go payment processing service, which includes a free mobile card reader and next-day and same-day funding. If you are a seasonal seller that regularly accepts payments within a year, Payanywhere can be a good option.
- Low-volume or mobile restaurants and food-based businesses: Payanywhere offers the ability to use split checks, open tabs, tips, and customer-facing touchscreen devices. It made our list of the best credit card payment apps, specifically for these restaurant-specific functions. It’s important to note that Payanywhere is not a full-fledged restaurant POS system.
When Payanywhere Would Not Be a Good Fit
- Processing high-value or high-volume transactions: If you sell expensive items or have a high average order value (AOV), Payanywhere’s fees will not be the most cost-effective option. Instead, check out one of these other cheap credit card processors.
- International payments: Payanywhere doesn’t support international payments. So, if you’re a global business serving customers worldwide, look for a different option, such as PayPal or Helcim, which are featured in our list of best international merchant services.
- Merchants that sell occasionally: Payanywhere charges a monthly account inactivity fee if you don’t use the platform within 12 months. So, if you’re only occasionally involved in selling, you might look for a free merchant account alternative such as Square or PayPal.
- Online businesses: We typically recommend Payanywhere as a mobile solution. If you need an online payment processor, choose one of our recommended payment gateways.
Payanywhere Payments Calculator
Enter your current in-store and/or online sales volumes and average order values for an estimate on the monthly fees you would pay using Payanywhere.
Since Our Last Update:
In 2021, Payanywhere began offering a pay-as-you-go plan for small businesses and made its custom pricing option available for any business type. It also now provides free same-day funding, which was previously offered with a 1% fee. Payanywhere’s mobile payment app has also received regular feature updates, including custom invoice numbering tools.
We review Payanwhere’s pricing and features, plus take a closer look at its merchant contract agreement that mentions long-term contract terms.
Payanywhere Alternatives & Fees Comparison
 |  |  | |
Best for | Businesses using billing, invoicing, and virtual terminals | Small businesses just starting out | Occasional in-person sales |
Monthly fee | Starts at $99/month | Starts at $0/month | Starts at $0/month |
Card-present transaction fee | Interchange + 8 cents | 2.6% + 10 cents | 2.29% + 9 cents |
Keyed transaction fee | Interchange + 15 cents | 3.5% + 15 cents | 3.49% + 9 cents |
Ecommerce transaction fee | Interchange + 15 cents | 2.9% + 30 cents | 3.49% + 9 cents |
Looking for the lowest rates? The payment processing rates you will pay can vary based on your business’s size, type, and AOV. To find the most affordable option and compare multiple processing rates, read our guide on the cheapest credit card processing.
Payanywhere Pricing
Payanywhere offers pay-as-you-go and custom pricing options. Previously, custom pricing was reserved for businesses that process more than $30,000/month, but its recent website update encourages any business owner to reach out to Payanywhere’s sales team to get custom-quoted rates. There’s also an inactivity fee of $3.99/month after 12 months of not using your account, so you’ll want to look at other options if you only sell occasionally.
Pay-as-you-go | Custom | |
|---|---|---|
Contract length | Month-to-month | Minimum 3 years, 1 year auto-renewal |
In-person transaction fee | 2.69% | Custom |
Keyed-in | 3.49% + 19 cents | Custom |
Invoice | 3.49% + 19 cents | Custom |
Recurring Payment | 3.49% + 19 cents | Custom |
Inactivity fee | $3.99/month after 12 months | N/A |
Early termination fee | N/A | From $295 |
Chargeback fee | $25 | Varies |
Payanywhere Hardware
For users only needing to accept on-the-go payments, Payanywhere supports mobile credit card readers, with the first one free for every merchant account. It also carries smart terminals and smart POS systems that you can purchase or rent by paying a licensing fee. You will also need to pay for the POS software attached to each device.
Payanywhere Hardware | |
|---|---|
 | $29.95 (first is free) Accept EMV chip cards and magstripe cards. Connects via Bluetooth to your smart device or computer. |
 | $49.95 Accepts traditional magstripe credit cards, EMV chip cards, and NFC contactless payments like Apple Pay and Samsung Pay. |
 | Custom License Fee or purchase for $249.95 (plus $9.95/mo/device software fee) Features include: 5" touch screen with Android software, Camera for barcode scanning, 4G and Wi-Fi connectivity, and preloaded Payanywhere app. |
 | Custom License Fee or purchase for $349.95 (plus $9.95/mo/device software fee) Features include: 5" touch screen with Android software, front and back cameras for barcode scanning, 4G and Wi-Fi connectivity, and preloaded Payanywhere app. |
 | Custom License Fee or purchase for $249.95 (plus $9.95/mo/device software fee) Features include: 4" touch screen with Android software, built-in receipt printer, and preloaded Payanywhere app. |
 | Custom License Fee or purchase for $449.95 (plus $49.95 one-time setup fee and $19.95/mo/device software fee) Features include: 4" touch screen with Android software, built-in receipt printer, and preloaded Payanywhere app. |
 | Custom License Fee or purchase for $549.95 (plus $49.95 one-time setup fee and $19.95/mo/device software fee) Features include: 8" touch screen with Android software, customer-facing display, front and back cameras for barcode scanning, built-in receipt printer, charging dock, and accessory hub for countertop setup, 4G and Wi-Fi connectivity, and preloaded with Payanywhere app. |
 | Custom License Fee or purchase for $949.95 (plus $99.95 one-time setup fee and $39.95/mo/device software fee) Features include: 12.5" HD touch screen with Android software, 4.3" customer-facing display, front and back cameras for barcode scanning, built-in receipt printer, Ethernet and accessory ports for countertop setup, 4G and Wi-Fi connectivity, and preloaded with Payanywhere app. |
Payanywhere Features
Setup & Application
You need to create a Payanywhere account before you can apply with your business’s federal tax identification number. You can do everything online. The process goes through six different screens, including selecting between a pay-as-you-go or custom rate, choosing hardware, creating a login, and then applying for a merchant account. While the process is a little longer than those of Square or PayPal, it’s still fairly quick and easy. However, there’s no information on its website about account setup or migration assistance.
Contract & Terms of Service
Payanywhere’s pay-as-you-go plan is pretty straightforward, but there are a number of things you need to look out for if you opt to sign up for a custom plan. While it’s most likely that this will result in lower transaction fees, Payanywhere’s terms of service suggest information that you may want to clarify with their sales team, such as:
- Contract length is a minimum of 3 years with 1 year auto-renewal
- An early termination fee of at least $295
- Software recovery fee on top of the early termination fee
- Your account can be terminated immediately if you incur chargebacks or retrieval requests in excess of 1% of your average monthly dollar amount of card transactions
- Your account can be terminated immediately if you incur returns in excess of 3% of your average monthly dollar amount of card transactions
- Your processor may change your processing limits without notice and can be a cause of suspension should you exceed said limits
Payanywhere Terms of Service
Payment Types
Payanywhere can process Visa, Mastercard, American Express, Discover, AliPay, and contactless payments like Apple Pay and Samsung Pay. Customers can also split tabs, pay via invoice, or sign up for recurring payments. Invoicing and recurring payment processing are also available, with options to customize. It also provides you with tools to allow customers to enroll in automatic payments.
Payout Time
Payanywhere defaults to next-day funding with a 10 p.m. cutoff time (Saturday and Sunday deposits will appear on Mondays). Businesses like restaurants or bars that have hours past 10 p.m. can elect a “same-day” funding option that has a 10:30 a.m. cutoff time, so your transactions from overnight will deposit later that day. Though calling it “same-day” funding is a bit of a stretch, it is a fast turnaround time and comes with no added fees.
Virtual Terminal
Accept payments on your computer with its virtual terminal and cloud-based dashboard. It provides you with the ability to process payments though manual key-in of your customer’s card details, or you can connect a mobile card reader via Bluetooth for swipe- or chip-based transactions. You can also send digital receipts via email or SMS and save and track customer information in the virtual terminal
Payanywhere’s virtual terminal lets you process payments through keyed-in or card reader-based transactions.
(Source: Payanywhere)
POS App
With the Payanywhere mobile app, you can process payments from a compatible smartphone or tablet. It includes inventory and employee management features, and allows you to email, text, or print receipts to a connected printer. The app works offline, so you can swipe credit cards without an internet connection. Payanywhere recommends its POS app for both small retail and restaurant businesses.
Mobile Payments
Payanywhere is ideal for mobile and in-person transactions, offering a full suite of hardware to administer these payments. It’s better suited for frequent sellers with a low AOV—and merchants that don’t need lots of bells and whistles when it comes to features. Payanywhere is a straightforward, simple system to learn. Though that makes it easy to use, it also limits functionality.
Payanywhere lets you accept payments, manage inventory, and pull reports from any mobile device.
(Source: Payanywhere app on iTunes)
Analytics Reporting
Like most payment processors, Payanywhere gives you real-time insight into payment-related data. View trends and historical sales for volume, payment type, customers, employees, and inventory, which are all synced across devices. You can also monitor and manage chargebacks, upload documentation, and respond to disputes when needed.
Chargeback Policy
Payanywhere sends merchants chargeback notification emails and offers an online portal where you can manage and dispute chargebacks. Unlike most credit card processing services, Payanywhere only charges a $25 fee if you lose the dispute—there are no automated fees.
Payanywhere Ease of Use
Same-day Funding
Same-day funding is free. All you need to do is go to the funding options on your Payanywhere app or Payments Hub to customize your settings. You are also provided with tools to manage and track your deposits.
Integrations
There are also limited integration options as compared with other payment processors. That said, you can connect Payanywhere with QuickBooks, Homebase, GRUBBRR, GiveHub, and others.
Customer Support
Payanywhere support reps are reachable via email, phone, or live chat. Some users report it takes a while for live chat techs to respond, but the option is there if that’s your preference. Merchants can also turn to the extensive library of support content to troubleshoot issues themselves. There are articles and videos to walk you through different obstacles.
What Users Think of Payanywhere
While Payanywhere has fewer reviews than other platforms, users are pleased with the payment processor, highlighting the simple yet effective software and integrations with popular POS systems like Square. In Google Play, Payanywhere has a 3.9 out of 5 rating based on over 4,300 reviews. In the App Store, it scores a 4.3 out of 5 based on nearly 1,000 reviews.
- Capterra: No new reviews since our last update. Fewer than 10 users scored Payanywhere 3.7 out of 5 stars. Most like how it’s easy to use and comes with affordable fees, though some have mentioned bugs with the software.
The most notable sentiment of Payanywhere users were:
Customers Like | Customer Complaints |
|---|---|
Affordable/free monthly | Frequent crash and fingerprint ID functionality issues |
Easy to use, particularly in sales tracking | Limited scalability of features |
Simple invoicing features |
Bottom Line
If you are looking for a simple mobile payment processor, Payanywhere is a good option for businesses handling frequent, mobile in-person transactions. Processing rates are affordable for low order values, making it ideal for frequent sellers of inexpensive goods. With its pay-as-you-go subscription plan, fast application process, and easy setup, it’s also a great payment processing alternative to Square.
