PayPal Unveils PayPal Here: The First Global Mobile Payment Solution for Small Businesses
March 15 2012 - 2:00PM
Business Wire
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 product.
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. If
merchants use the debit card for purchases, their fees effectively
come down to 1.7 percent.
Beyond all of the unique capabilities offered by PayPal Here,
the key differences from other existing mobile payment solutions
are that it includes PayPal’s world-class fraud management
capabilities, as well as 24x7 live customer support. PayPal has
more than 100 million customers around the globe and 13 years of
experience providing secure payment products that have helped
millions of merchants grow their businesses globally.
PayPal Here is the latest addition to a comprehensive suite of
payment solutions for small businesses – from PCI-compliant express
checkout options and invoicing, to debit cards and mobile-optimized
checkout. The company plans to announce even more functionality to
its merchants later this year.
“Because PayPal offers me so many payment solutions, it’s really
become my one-stop shop,” said PayPal merchant Aaron Thorne of
Hiroshi’s Catering in Walnut Creek, CA. “Unlike other card readers,
PayPal Here is fully encrypted so I can feel comfortable taking
payments in multiple ways and providing security to my
customers.”
PayPal Here: Summary of Benefits and Features for U.S. Small
Businesses
- The most payment
types: swipe credit and debit cards, manually key in or scan
card information, scan and process checks (U.S. only), invoice
directly from the app, and accept PayPal
- Immediate card
acceptance: download the PayPal Here merchant app, sign up
and start accepting payments immediately
- One simple flat
fee: the mobile app and card reader is free for both
merchants and consumers, with no account setup or monthly fees,
competitively priced at 2.7 percent
- Be paid
quickly: merchants receive funds directly into their PayPal
account whether the sale is online, mobile or via PayPal Here
- PayPal debit card
for quick access to cash: with 1 percent cash back on
eligible purchases, fees effectively come down to 1.7 percent
- Security:
PayPal Here uses end-to-end encryption to help protect card
information as it swipes, backed by PayPal’s world-class security,
risk and fraud management systems
- 24x7 customer
support: live phone and online customer support – more than
6,000 customer service agents across 17 centers around the
globe
- Backed by
PayPal: One of the world’s most trusted ways to pay and get
paid with more than 100 million active accounts worldwide in 190
markets and supports payments in 25 currencies
Availability
The PayPal Here card reader and merchant app for iPhone are both
available today exclusively to select merchants in the United
States, Canada, Australia and Hong Kong. It will be generally
available in those countries next month. The Android version of the
PayPal Here merchant app will also be available at that time.
PayPal will announce the availability of PayPal Here in more
countries soon. U.S. businesses can join the wait list to get a
free PayPal Here card reader at www.paypal.com/here. International merchants can register their
interest at their local PayPal site.
The updated PayPal app for iPhone is available in the iOS App
Store globally starting today.
About PayPal
PayPal is the faster, safer way to pay and get paid online. The
service allows people to send money without sharing financial
information, with the flexibility to pay using their account
balances, bank accounts, credit cards or promotional financing.
With 106 million active accounts in 190 markets and 25 currencies
around the world, PayPal enables global commerce. PayPal is an eBay
(Nasdaq:EBAY) company. PayPal is headquartered in San Jose, Calif.
and its international headquarters is located in Singapore. More
information about the company can be found at www.paypal.com.
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