PayPal today announced PayPal Here, the world's first global mobile
payments solution that allows small businesses to accept almost any form
of payment. The new service includes a free app and fully encrypted
thumb-sized card reader, which turns any iPhone, and soon Android
smartphone, into a mobile payment solution. With PayPal Here, small
businesses, service providers and casual sellers can send invoices or
accept debit and credit cards, checks and PayPal using one simple
PayPal Here gives merchants more choice than any mobile payment solution
on the market today. No matter how consumers choose to pay, PayPal Here
makes it easy, giving small businesses more sales opportunities.
Merchants can accept payments by swiping cards in the card reader,
scanning cards and checks using their phone cameras, or manually
entering card information into the app. They can also send an invoice
and set payment terms directly from the app. And, of course, they can
accept PayPal payments in a brand new way.
PayPal also released the latest version of its PayPal Mobile app for
iPhone today, a consumer app that complements PayPal Here. PayPal users
will be able to use the "Local" feature on the PayPal app to find nearby
businesses that accept PayPal Here. Once the customer is ready to pay,
they can notify the merchant by a quick tap on their mobile phone.
Merchants can use PayPal Here to accept the payment by simply
referencing the shopper's name and picture – no wallet needed.
"Helping small businesses grow and accept payments has been in PayPal's
DNA since its inception 14 years ago," said PayPal's vice president of
mobile, David Marcus. "We've heard small businesses loud and clear. They
don't want to miss sales opportunities because they can't accept the
payment type that their customers want to use. They want quick access to
their money, a reliable card reader, and one transparent, low fee to
process these payments. I'm thrilled to launch PayPal Here because we've
been able to bring all of these key features together into a product
that's so simple to use."
PayPal Here offers a competitive fee structure with no monthly account
or set-up fees. Merchants pay a simple flat rate of 2.7 percent for card
swipes and PayPal payments. In addition, every PayPal
Here merchant will receive a business debit card for quick access to
cash and 1 percent cash-back on eligible purchases.