[March 24, 2012] PayPal Launches PayPal Here Mobile Payment Solution Tweet Mar 24, 2012 (Close-Up Media via COMTEX) -- PayPal announced PayPal Here, a global mobile payments solution that allows small businesses to accept almost any form of payment. According to a release, 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 noted that it also released the latest version of its PayPal Mobile app for iPhone, 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 VP 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. PayPal is a 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. More Information: paypal.com ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]