The PayPal Here mobile payment system rolls out onto the scene, targeting small business. And thanks to the latest entrant, this particular niche can now accept just about any form of payment. A free app as well as a fully encrypted thumb-sized card reader for Android and iPhone handsets are bundled into the payment solution. Besides the aforementioned segment, casual sellers and service providers will also be able to send invoices as well as accept checks, PayPal, debit and credit cards via the offering.
Providing a window to more sales opportunities, potential users have a plethora of options to choose from when it comes down to the specific payment methods. They can scan checks and cards by exploiting their phone’s camera or simply swiping cards for accepting payments. Apart from these techniques, users can also physically punch in the card data directly into the PayPal application. Furthermore, the software allows seamless setting of payment terms and even the ability to send invoices.
“Helping small businesses grow and accept payments has been in PayPal’s DNA since its inception 14 years ago,” explained 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.”
The revamped version of the PayPal Mobile app for iPhone now features the ‘Local’ option, which enables handset owners to easily find business organizations that accept PayPal Here and are within the area perimeters. The company reveals that only one simple flat fee which reads at 2.7% for PayPal payments and card payments, is required. This comes minus monthly fees or account setups. Merchants can acquire a business debit card that gives them quick access to money as well as 1% cash-back on purchases.
Although the PayPal Here card reader along with the merchant app for the iPhone has exclusively made its way to Canada, Australia, the United States and Hong Kong, it will roll out to the general public residing in these regions, in April. The Android version of the same is also slated to release next month. According to the company, other countries can expect to receive the new system sometime soon.