PayPal has announced their foray into the mobile payment solution by introducing PayPal Here. A credit card dongle plugs into the iPhone’s headset jack, and the initial rollout of this new payment system includes Canada, the U.S., Australia, and Hong Kong.
Here are the details:
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%!
A new dedicated PayPal Here app will soon hit the App store.
According to the iTunes description of the existing PayPal app which was just updated, merchants can get a free swiper from PayPal:
*If you are a merchant who would like to get paid directly with your smart phone, download the new PayPal Here™ application from the app store to get started, and we’ll send you a free card reader.
So here we have yet another mobile payment solution for Canada. Other options available include: PayFirma, Moneris and Kudos. Anyone plan to try this out?
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I am very interested in trying it, especially since I already use Paypal system and this would make Paypal even more useful. I find that some customers are not comfortable using Paypal on their computer or are not interested opening Paypal account for one time transaction, so this would be a good solution.
It seems to have exactly the same cost as the proposed Quicken Go system, so the question now is which one actually comes out with something that works. They both promise soon, but what does soon mean?
Very nice. Being a musician, I would use this at the band’s merchandise booth.
What a misleading story. It is 13 months later and PayPal Here is still not available at large. Only to a select few merchants for testing.
I just called Paypal and they do not offer this Here device in Canada.