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.
Whitepapers
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