The Race for the Top Slot in Smart Terminals Is on With an Entry From North American Bancard

The era of the smart point-of-sale terminal has already dawned, and now the race is on for dominance. North American Bancard Holdings LLC on Thursday launched its PayAnywhere smart terminal, which runs on NAB’s PayAnywhere mobile-payment software. The move follows news earlier this week that terminal startup Poynt Co. is jockeying to provide what it calls a common operating system for smart POS devices.

And last week, Square Inc. chief executive Jack Dorsey dismissed traditional countertop payment gear as “dinosaurs” while touting the new, $399 Square Terminal.

Troy, Mich.-based NAB says its new device enables inventory tracking, real-time reporting, and employee management. It features a five-inch touchscreen and can run EMV and mag-stripe transactions as well as contactless payments based on near-field communication. It also has cameras front and back for barcode scanning and includes 4G and Wi-Fi connectivity.

“PayAnywhere strives to implement solutions for businesses that incorporate technological advancements, while blending ease of use and functionality,” said Marc Gardner, NAB’s president and chief executive, in a statement. “Today’s business owners need to be capable of accepting payments any time and anywhere.”

Businesses will pay a $9.95 monthly software fee for the device, NAB says.