Square to Triangle – check mate.
PayPal has a long history of helping small businesses. For 14 years we’ve provided the tools and services that have allowed millions of small businesses to grow by solving the complex and critical task of processing payments securely and easily in more than 190 countries. Helping small business owners get paid is in our DNA. That’s why I’m excited to unveil PayPal Here, a new payments solution that will help small businesses get paid – whether they do business online, offline or on mobile.
PayPal Here is the world’s first global mobile payment solution that allows small businesses to accept almost any form of payment. It’s designed to help those merchants make more sales and grow their business with confidence. And it gives them choices. They can accept payments by swiping cards with a fully encrypted thumb-sized card reader, or use a phone camera to scan and process cards and checks. It also allows them to invoice directly from the mobile app and, of course, accept PayPal in a brand new way.
So, you’re asking, how is this different from other small business mobile payment solutions? The key differentiator is that it comes from PayPal, a trusted brand in the online payments industry with more than 100 million customers around the globe and years of proven payment innovation, driving growth for millions of businesses globally. 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%!
PayPal Here is just the latest addition to our comprehensive suite of payment solutions for small businesses – from PCI-compliant checkout options and invoicing, to debit cards and mobile-optimized checkout. With PayPal Here, we are now able to serve as a one-stop shop for online, offline and multi-channel small businesses.
We’re happy to be helping small businesses around the globe take the pain out of payments and let them focus on what they do best – running their business and growing their customer base.
PayPal Here is available today exclusively for select merchants in the United States, Canada, Australia and Hong Kong. It will open to all other merchants in those countries next month. And we’ll announce the availability of PayPal Here in more countries soon. Be sure to visit www.paypal.com/here to get the free app and card reader as soon as it’s widely available. Feel free to let us know what you think in the comments below!
–David Marcus, Vice President of Mobile, PayPal