TROY — The Pay Anywhere mobile payments branch of the Troy payment processor North American Bancard Monday announced it is dropping its 19-cent fee per swiped transaction.

Pay Anywhere users can now accept credit cards at 2.69 percent of the transaction cost per swipe, which Pay Anywhere says is the lowest rate in the industry.

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Pay Anywhere is a free app and free credit card reader that attaches to Apple and Android smartphones and tablets.

The recent release of Pay Anywhere Version 1.5 for Apple included landscape-format support on iPhone and iPad; cash drawer and printer compatibility to transform Pay Anywhere into a POS-lite interface; and exclusive built-in Heat Map reporting to locate sales trends.

Pay Anywhere users will still enjoy no monthly minimums, cancellation fees, or any hidden fees.

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Merchants who need more in-depth business analytics are encouraged to take advantage of the free Pay Anywhere Merchant Portal. The portal gives merchants around-the-clock Web access to detailed account activity, custom email alerts and reports, and the opportunity to make more money with a referral program.

Powered by North American Bancard, a leader in the credit card processing industry for over 135,000 merchants, Pay Anywhere transactions are encrypted and PCI compliant. If questions arise, merchants can depend on 24/7 customer support available through the phone, live chat, and email.

“At NAB, we don’t think of mobile payments as simply a card reader or an app, but rather as a total solution offering whose parts should work seamlessly together,” said Marc Gardner, founder and CEO of NAB. “That’s exactly what Pay Anywhere is: an all-in one, comprehensive mobile payments solution boasting the best price and the best features in the industry. We offer our merchants ease-of-use, security, and full customer support that they just won’t find anywhere else.”

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