TROY — North American Bancard, the Troy-based provider of credit card processing, said Tuesday that the newest version of its PayAnywhere Mobile credit card reader is now available for purchase in all Apple Stores in the United States and online at Apple.com.
The company says the new PayAnywhere Mobile reader plugs in to the headphone jack of an iPhone or iPad, turning iOS devices into mobile point-of-sale systems. The reader enables merchants of all sizes to accept Apple Pay, other contactless payments, and traditional magnetic stripe credit cards anywhere, providing a seamless checkout experience for both the merchants and their customers.
The company says PayAnywhere also provides merchants with features and functionality such as faster funding, real-time analytics, and superior customer service, all for one of the industry’s lowest rates with no setup or monthly fees. In an unprecedented offer for the industry, PayAnywhere is offering merchants up to $5,000 free in Apple Pay transactions with a new PayAnywhere account.
To improve security and privacy, actual card numbers are not stored on the Apple Pay device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on each device. Each transaction is authorized with a one-time unique dynamic security code.
The PayAnywhere Mobile device retails for $39.95, and the PayAnywhere Mobile app is free in the App Store. In stores, Apple Pay works with iPhone 6, iPhone 6 Plus and Apple Watch.
For more information on Apple Pay, visit http://www.apple.com/apple-pay/.