Apple announced on Thursday a new partnership with North American Bancard (NAB) to launch the latest version of PayAnywhere, a credit card reader that serves more than 300,000 locations around the United States. The latest version of PayAnywhere reader will be available in all Apple Stores beginning this September for only $39.95 according to 9TO5Mac.
This partnership opens opportunities for people to use Apple Pay instead of cash at small businesses like food trucks and local cafes. These enterprises don't usually carry credit card payment or any contactless payment system. According to CNBC, Apple hopes to make consumers realize the convenience of using their Iphones or Apple Watch instead of carrying their wallets, swiping their cards or paying cash.
When you add a credit or debit card to Apple Pay, card numbers are not stored; rather a unique Device Account Number is assigned, encrypted and stored on your device. Transactions are authorized with a unique security code. Now, PayAnywhere, which plugs into Iphone or Ipad, transforms the mobile device into a Point of Sale (POS) system for processing payment. It also supports other mobile wallets, EMV-enabled cards and magnetic stripe credit cards. More so, there are no monthly or installation fees. It will also hold a promotion for merchants to waive the processing fee for their first $5,000 sales.
"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."
Retailers have signed on to support Apple Pay including Macy's, Walgreens, Staples, Subway, McDonald's, Whole Foods and the Disney Store. Strip has announced its full support for Apple Pay on its website.
For online purchases, Apple Pay will let you proceed to check-out without having to enter your card or personal information. No card information will be shared with the merchant. Enterprises like Target, Uber and Groupon are also on deck to include Apple Pay in their iOS apps. The OpenTable app will let you pay your check with Apple Pay.
The device will be sold only in the United States in a short run, there were no further announcement of its availability abroad. It will only cost $39.95 while the PayAnywhere Mobile app is free in the App Store.
