PayPal Here sees 1,000 subscribers per hour on launch day

Rapid initial adoption

PayPal claims its new mobile payments solution, PayPal Here, signed up 1,000 new users per hour within its first 24 hours of availability alone, in a blog post. Here allows small businesses to accept payments using a plug-in for smartphones, and use the smartphone camera to scan and process cards or cheques. PayPal is also attempting to undercut mobile payments rival Square, charging 2.7% fees per transaction, as opposed to Square’s 2.75%. PayPal here is currently available to a select group of merchants in the US, Canada, Australia and Hong Kong, but will be rolled out across these countries in April.

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