Mashable - PayPal unveiled its new PayPal Here, a small business mobile payment system. First shown on Thursday, it’s a combination of a free mobile app and thumb-sized card reader, putting a PayPal cash register in the pocket of anybody who wants one.
“When PayPal does something it doesn’t start small … PayPal does things globally,” said eBay CEO John Donahoe shortly before unveiling the app, and something that’s likely to give the company an advantage over the competition. The company launched PayPal Here Thursday at select merchants in the United States, Canada, Australia and Hong Kong, with plans to be available to any merchant who is interested in the service soon.
PayPal as a whole is now available in 190 markets and supports 25 different currencies. The service has tons of room to grow, and PayPal already has the customer base in place to make that growth happen quickly.
PayPal’s triangular dongle for accepting swiped credit card transactions fits in the headphone jack of any iPhone or Android handset. Its front slides down slightly to “lock” the reader in place — a characteristic PayPal feels is an advantage over Square, its cube-shaped counterpart.
With all the hype over the release of the new iPad today, something that may be even more revolutionary may get overlooked. Today, PayPal released something called the PayPal Here. This is a card reading device that can be plugged directly into your iPhone allowing it to interact with a PayPal app. Although this isn't anything new, a company called Square has been doing this for some time now, PayPal is a company used around the world and known for their secure and fast payment system.
The new PayPal app also has the ability to create invoices and send the invoice to the customers, who can then pay the invoice with their credit card. If you read our blog yesterday, we discussed "4 ways Mobile Apps will help you business". We touched on the topic of mobile payments and how they are going to be the payment process of the future. Well, the future is today.
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