PayAnywhere

 
PayAnywhere offers a “smart point of sale system” that combines the impressive functionality of their full featured software with the stylish and intuitive PAX E500 countertop device.  The PAX E500 is an excellent choice for those business owners who want a powerful, compact and easy-to-use POS system, without having to incur large up-front costs.
 

POS System Features

 
The PAX E500 operates via WiFi connectivity and it has merchant and customer facing, impact resistant color touchscreens for greater clarity on transactions.The PAX E500 also has an integrated thermal printer, swiper, high-resolution camera for barcode or QR scanning, and EMV functionality. EMV, which stands for Europay, Mastercard and Visa, is the global standard for credit and debit cards equipped with computer chips and the technology used to authenticate chip-card transactions. We advise all merchants to only acquire those credit card processing solutions that have chip based EMV capabilities, like the PAX E500.

It is also important to note the majority of POS systems sold in the United States are not “all-in-one” solutions, which means most systems’ card readers, printers and touchscreens are all separate. Having a POS product that contains all of these important elements into one, solid unit is certainly helpful and convenient.

Additionally, this system contains NFC contact-less payment technology. NFC stands for Near Field Communication, which allows a person to make a transaction via their smart phone by holding it right over a merchant’s payment device. Allowing your customers to pay with their mobile wallet (Android Pay or Apple Pay) is a useful feature that assists merchants in their ability to process transactions quicker and more efficiently.

The PAX E500 also contains tip functionality, which is accessible via the customer facing screen, and allows customers to enter in tip amounts and electronically sign the screen with their finger. In regard to the operation of your business, the PAX E500 works in conjunction with PayAnywhere, which is an integrated software that allows you to effectively process and manage transactions that are current or even those that were completed up to 3 years prior.

With PayAnywhere’s custom date range finder, your past sales can be accessed quickly and with ease. This technology also enables customers to organize their inventory and even view sales volume metrics, that allow month over month, quarter over quarter and year over year analysis, which can be very useful for targeting customer segments and forecasting other important trends. And of course, this system provides merchants with the ability to email or print out customer receipts.

Further, the PayAnywhere technology seamlessly saves all of this information in the cloud, while also giving its users access to this data from any smartphone, tablet or computer by downloading the free PayAnywhere app. Everything a merchant needs to process a customer’s transaction is provided through the PAX E500 and this device comes with a cash drawer if so desired.
 

Pros and Cons

 
While there are a number of different POS choices available in today’s marketplace, this point-of-sale option is a solid selection for anyone seeking a processing solution that has more functionality than a standard credit card terminal, but is not as cumbersome and complicated as many other POS systems.

Pros

• Compact, all-in-one design
• Easy-to-use
• Accepts EMV Chip based transactions and NFC payments
• Merchant and customer facing color touchscreens
• Access to robust data analytics

Cons

• Need to be currently processing at least $10,000 in credit card sales to receive the unit for Free
• PayAnywhere is a proprietary software
• Is not open source and is not app based