PayPal Here Mobile Payments Platform Aimed at Small Businesses
Merchants can accept payments by swiping cards in the card reader, and scanning cards and checks using their phone cameras.Online payment solutions specialist PayPal announced PayPal Here, a 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 as well as checks and PayPal using one product. 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. PayPal also released the latest version of its PayPal Mobile app for iPhone, a consumer app that complements Here. PayPal users will be able to use the Local feature on the PayPal app to find nearby businesses that accept Here. Once customers are 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 referencing the shoppers name and picture.
Helping small businesses grow and accept payments has been in PayPals DNA since its inception 14 years ago, said David Marcus, PayPals vice president of mobile. Weve heard small businesses loud and clear. They dont want to miss sales opportunities because they cant 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."