PayPal has just announced a service to compete with Square, the credit-card swiping service for the mobile devices. The service is called “PayPal Here.”
The positive thing about PayPal Here, and their primary selling point, is that it’s the first global mobile payment system that will allow people to make payments of alost any form. There are over 100 million people with PayPal accounts, and the service is best known or being the most secure way to pay for things online. They have the brand recognition, the security, and the ease-of-use for the users.
Although Square has security and ease-of-use as well, one thing that PayPal can offer business owners that Square can’t, is choices. It’s designed to help merchants make more sales and improve business, and can accept credit card payments by swiping cards with a fully-encrypted card reader, which resembles that which Twitter co-founder Jack Dorsey created back in 2009. Aside from the direct competition of credit-card sales with a slider, PayPal Here will support payments using your camera as well. If you don’t have the slider, just take a picture of the credit card, or pay by check by using your phone camera as well.
Users will be able to invoice customers directly within the mobile app, and accept PayPal payments in a new way. It’s also very secure, and has impressively low fees compared to competitors.
PayPal Here comes with our world-class fraud management capabilities, and our 24×7 live customer support. In addition to accepting more payment methods, PayPal Here offers a simple flat rate of 2.7% for card swipes and PayPal payments. Merchants are also given a business debit card for quick access to their funds and 1% cash back on eligible purchases – which means if you use the debit card, your fees are actually just 1.7%!
If you’re in the United States, Canada, Australia, or Hong Kong, PayPal Here is available today for you. It will open to all other merchants in those countries next month.
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