E-commerce business PayPal has introduced PayPal Here, a mobile payments application that allows small businesses to accept most forms of payment.
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 application.
PayPal Here enables small businesses, service providers and casual sellers to send invoices or accept debit and credit cards, checks and PayPal using one simple product.
It also includes PayPal’s fraud management capabilities, as well as 24×7 live customer support.
The mobile app and card reader is free for both merchants and consumers, with no account setup or monthly fees, priced at 2.7%.
Swipe credit and debit cards, manually key in or scan card information, scan and process checks (US only), invoice directly from the app, and accept PayPal.
Merchants receive funds directly into their PayPal account whether the sale is online, mobile or via PayPal Here. With 1% cash back on eligible purchases the app cut down fees to 1.7%.
PayPal also released the latest version of its PayPal Mobile app for iPhone, a consumer app that complements PayPal Here.
