| Term | Detail |
|---|---|
| Initial term | 36 monthsPayanywhere (North) (opens in a new tab) · Contract or terms · This is the merchant processing agreement you move to automatically, with no further notice, once you pass $100,000 in a rolling 12 months on any one card network (Visa, Mastercard, Discover or PayPal, each counted on its own), at the published fees or at fees set at that time, so the 2.69% isn't guaranteed after the move. A restaurant with $30k a month in card sales passes it within 12 months as soon as one network carries more than about 28% of its card sales. Below the threshold, the Payanywhere user agreement has no term. The agreement doesn't make clear whether the 3 years count from your approval or from the move; our cost counts them from month 0. |
| Automatic renewal | Renews for 1 monthsPayanywhere (North) (opens in a new tab) · Contract or terms · After the 3 years, it renews month to month unless you give 30 days' notice before the term ends. |
| Notice to avoid renewal | 30 daysPayanywhere (North) (opens in a new tab) · Contract or terms · |
| Early termination fee (ETF) | Leaving within the 3-year term: all monthly fees for the rest of the term (minimum monthly fees included), which North may calculate from your volume and average ticket; never less than $295 and never more than state law allows. Under the Payanywhere user agreement (below $100,000 in 12 months on every card network) there's no termination fee.Payanywhere (North) (opens in a new tab) · Contract or terms · |
| How the ETF is calculated | 100% of the remaining monthly software and processing fees for each month left in the term. |
| Right to raise prices | North can change any fee with notice, including a statement message; you can leave without the termination fee within 30 days of the first statement that shows an increase not passed through from the card networks.Payanywhere (North) (opens in a new tab) · Contract or terms · |
Example: leaving in month 12
With our reference profile (Reference: $30k/month in card sales, $35 average ticket, 90% in person, 1 terminal, 12 months), the estimated early termination fee would be $20,335. Your contract may differ: use the calculator with your numbers.
This is general information about published contracts, not legal advice: read your own contract and check with a lawyer before you sign.