Credit card processing and mobile payments company PayAnywhere recently announced it is providing its PayAnywhere 2-in-1 Bluetooth Credit Card Reader to all new subscribing merchants free of charge. According to a September 19 press release, the company is the first to offer its customers a Bluetooth EMV reader without a monthly fee.
The Bluetooth reader is capable of wireless use and reading EMV chips and magnetic strips. According to the device's official webpage, it can pair with a mobile device just as easily as most other Bluetooth-based electronics.
"The scanner is compatible with Apple and Android products"
Free Bluetooth EMV device aimed at helping small businesses
The 2-in-1 Bluetooth reader replaces its previous magnetic strip-only device. The scanner is compatible with Apple and Android products and accepts Visa, Mastercard, American Express and Discover cards.
PayAnywhere is a subsidiary of North American Bancard Holdings, LLC which, according to its website, has 250,000 members nationwide across all business sectors and processes over $34 billion annually. However, the new Bluetooth instrument is directed at serving small businesses in particular.
Since the advent of widespread EMV use in 2015, large-scale retailers have been quick to adapt to the technology. Smaller merchants, on the other hand, have been slow to make the switch due to the high costs of upgrading. By providing the free Bluetooth devices, PayAnywhere hopes to help sway smaller merchants and service providers to use EMV and also reduce chargebacks and fraud risks.
"We know the importance of making sure our merchants have a fast, reliable and secure payments solution," said Marc Gardner, North American Bancard president and CEO, in the official announcement. "Because our everyday focus is putting our merchants first, we wanted to give merchants a card reader that offers the ability for secure, EMV transactions – protecting them from costly chargebacks and fraudulent purchases."
This announcement comes on the heels of an update to the company's mobile processing app, PayAnywhere 5.0. According to a January press release, the app's revisions contain features intended to help small and medium-sized merchants manage their businesses.
The app previously allowed for the use of third party Bluetooth scanners, but can now be used with the compatible PayAnywhere devices.