Young Entrepreneurs

Food Truck Owners: Accepting Payments on the Go

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If you are looking to start a business selling food from a truck then you are likely looking for the easiest way to accept money. Obviously, starting a food truck from scratch is no easy task. There are tutorials on how to start a food truck business but most of the information will come from learning from other owners about the mistakes they made when they first started out. Once you have your food truck business set up, accepting payments while you are on the go is a major consideration. Fortunately, there are mobile payment processing systems that will allow you to have a full point of sale (POS) service ready to accept cash and credit cards.

How to Accept Credit Cards on the Food Truck

There are a few options for accepting credit cards on your food truck. First off, I would recommend setting your prices so that the number rounds nicely including tax. That way, when you have people who pay with cash, you can make the transaction as simple as possible. But when it comes to credit cards the simplest way to accept payment is by using a mobile card reader.

 

PayAnywhere is an option for young entrepreneurs and business owners that want to accept payments on the go. The company offers credit card readers if you choose their service. Once you receive your credit card reader, you can begin to accept payments with a mobile device; iPhone or Android based devices are compatible.

Who is PayAnywhere?

PayAnywhere_iPhone

PayAnywhere is a multi-billion dollar credit card processing company with more than two decades of merchant payment processing experience. This is a system compatible and ready to accept Visa, Mastercard, Discover, and American Express cards. The reader is compatible with iPhone, iPad, iPod Touch, most Android smartphones or tablets, and Blackberry smartphones.

 

What are the Fees?

Every smart business owner considers costs before making a decision. In this case, you will want to know what the fees are for this mobile payment processor in general.

  • Card Reader: Free

When you choose PayAnywhere as your mobile card processor, you will receive the card reader without charge.

  • Monthly fees: None
  • Minimum transactions: None

There are no monthly fees or minimum transaction requirements to use the PayAnywhere service.

  • Swipe fee: 2.69%

What are your thoughts on mobile payment processing?

LaTisha Styles is a motivational speaker, millennial money expert, and spokesperson specializing in simple finance for millennials. LaTisha is the producer and host of Young Finances TV, a weekly series featuring funny, insightful videos on the basics of personal finance. LaTisha has been quoted in Forbes and Mainstreet, featured in The Economist, and mentioned in US News as a top personal finance expert to follow on Twitter. You can follow LaTisha on Twitter for daily millennial money tips to budget, invest and achieve success!