Canada is next stop for PayAnywhere

PayAnywhere LLC, a mobile payment system maker based in Troy, Michigan, is eyeing the Canadian market before going anywhere else.

“PayAnywhere is eyeing expansion into Canada next before rolling into other international markets,” a spokesperson for the company said today.

The company also announced today the appointment of two new managing directors who will advise the company in the areas of new acquisitions, partner development, as well as domestic and international market expansion.

Although the parent company of PayAnywhere is a leader in credit card processing operating for two decades, the firm operates very much like a startup, according to Marc Gardner, CEO of the mobile payment company. “PayAnywhere is the only ‘mobile payments’ company created and run by a true payments company; payments is our DNA,” he said in a press release.

Like mobile payment apps Square and Intuit GoPayment, PayAnywhere gives away its card-swiping accessory for free with app registration. From there, it charges a 2.69 per cent fee per transaction, lower than the fees both for Square (2.75 per cent) and Intuit GoPayment (2.7 per cent for card swipes and 3.7 per cent if you manually key in the card number).

The PayAnywhere app is available on iOS and Android (including 7 and 10-inch tablets), with the latest version coming in two weeks along with a new BlackBerry app.

To beef up the company’s leadership team in its expansion program for 2012 and beyond, financial services veterans Carl Williams and Ed Myers were enlisted as new managing directors.

Williams was president of worldwide payment processing at Global Payments (GPN). He also served as president of the merchant services division of National Processing Company (NPC).

Myers served as as president of U.S. operations at Global Payments and as chairman of the board at Comerica Merchant Services, on the advisory board of the Electronic Transaction Association (ETA) and on the advisory board of Discover.

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Jim Love, Chief Content Officer, IT World Canada

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