Paypal today announced “PayPal Here” a mobile payment solution for iOS and soon Android. The new services utilizes a free smartphone app and an encrypted card reader to enable users to send invoices or accept debit and credit cards, checks and Paypal using one integrated product.
Currently, Paypal Here is in limited release but you can sign up to be notified automatically when it becomes publicly available.
In the U.S. and Canada, the PayPal Here card reader and merchant app are free. You pay 2.70% for swiped transactions and PayPal payments, and 3.5% + $0.15 if you type in the credit card information manually or scan the card using the Scan Card feature.
Specifically by country, payment acceptance will be:
- Visa, MasterCard, American Express, Discover – US only
- Visa, MasterCard, American Express – Canada, Australia and Hong Kong
- Check capture – US only
- PayPal – US, Canada, Australia and Hong Kong
Checks will be processed free of charge, without commitments or hidden fees according to information provided by Paypal.
“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.”
For more information check the PayPal Here FAQ.