PayPal Here is the world’s first global mobile payments solution that allows small businesses to accept almost any form of payment. The 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.
In its pursoot to provide an alternative way to take payments, PayPal has launched a new mobile application and credit card reader. The company has released PayPal Here to allow merchants to take payments using their mobile phones. To introduce their product, PayPal has unveiled this explanatory video on their website and media channels: “How It Works”.
Unlike other mobile payment solutions, PayPal Here comes with an encrypted card reader and is backed by PayPal’s world class risk management capabilities – secure, reliable and easy transaction processing and fraud protection for you and your customers. [Source]
PayPal will attempt to grab some market shares from Square, the other mobile phone payment company.