Paypal announced credit card payments from mobile
Paypal is not staying behind in mobile payments. The highly well-known internet bank has just introduced Paypal Here and its mobile credit card reader. This would allow clients with a smartphone to charge credit cards directly from their devices, a function that most users currently turn to Square for.
Paypal is a very much bigger company, though. And it is employed by most users that deal with any type of online currency transactions. It will be practical to integrate this service to one’s present Paypal account.
The worldwide e-commerce organization is also bringing a bit of extra competition by providing lower fees; charging 2.7%, as compared to Square’s 2.75%. The application and encrypted card reader are provided for free. Paypal also reminds us that their free debit card offers 1% cashback, essentially bringing the fee down to 1.7%.
It is quite simple to operate. The user requires to set how much the client will be paying. After that, they basically swipe the card, and hand the device over to get a trademark (and a tip). It is even possible to send a receipt to the client’s phone. The application also works as a checkbook, as it records expenditures made with cash or checks. And if the card cannot be read, the credit card transaction can be done manually.
See the video tutorial below:
The totally free card reader looks fairly nice, albeit a bit bigger and bulkier than Square’s. It functions a sliding “wing,” which helps support the reader with the phone’s service when connected to the headset jack. It looks like a great choice for small businesses and individuals.
If you are searching to join the party, you might have to wait a bit. The application will first be launched for iOS, which is what Paypal used to demo the new product. But an Android app is in the works, so we will not have to wait too much.
What do you guys say? Square forever? Or are you creating the move to good ol’ Paypal?