PayPal Here iPhone, iPad & Android Credit Card Processing
Micro merchants and businesses that need to accept credit card payments while on the go now have yet another smartphone credit card processing option. On March 16th PayPal launched PayPal Here, a service that allows iPhone, iPad and eventually Droid users to accept credit card payments through their mobile device.
PayPal Here isn't available yet, but it's pretty clear that PayPal is taking direct aim at Square — the current market leader in the smartphone credit card processing space. Square has a few things to worry about, too, not the least of which is PayPal Here's slightly lower pricing.
The triangle-shaped card readers for PayPal Here haven't started shipping yet, but the details of PayPal's services are outlined pretty well on the company's Web site.
PayPal Here Pricing
PayPal Here Swiped Rate
PayPal Here charges a flat 2.70% of the transaction volume for all swiped credit and debit cards, including the often more expensive American Express cards. PayPal Here does not have a credit card transaction fee like many other smartphone processing solutions that utilize a traditional merchant account.
PayPal Here Keyed Rate
The cost to manually enter a transaction by keying numbers or by using PayPal Here's Scan Card feature increases to a flat 3.50% of volume plus a $0.15 transaction fee.
PayPal Here Check Processing
Check processing and settlement is offered free of charge through PayPal Here.
PayPal Here Features
Multiple Payment Types
PayPal Here ups the stakes in the mobile market by allowing users to accept multiple types of payments including credit cards, debit cards (without a PIN number), checks and PayPal's own electronic funds.
Like most other smartphone processing services, PayPal Here will send customer receipts via email or text message (SMS).
Immediate Funds Availability
As outlined in more detail below, a benefit to PayPal Here over other credit card processing services is the immediate access to funds. Granted, a PayPal debit card is required to withdraw funds immediately, but the option exists for users with tight cash flow.
Paying With PayPal
The PayPal Here app registers nearby customers that have active PayPal accounts without the customers needing to present their phone or electronic device. Vendors can charge customers through PayPal simply select the customer by name and picture to process a transaction.
Along with tracking credit card, debit card, check, and PayPal transactions, PayPal Here also tracks cash purchases and offers a handy automated change calculator.
PayPal Here offers a host of additional important features including multiple item checkout, multiple tax rates, discount support, and inventory item set up for popular items. Visit the PayPal web site for additional information on PayPal Here FAQs.
PayPal Here Deposit Time
Funds from sales are settled to a user's PayPal account immediately. Users with a PayPal debit card will be able to use the card to access funds immediately either by using the card to make a purchase, or by using the card to withdraw money from an ATM.
Users without a PayPal debit card still have access to funds immediately to make purchases from their PayPal account.
Users that would prefer to withdraw funds from their PayPal account can transfer funds to their bank account in about three business days.
PayPal Here Set Up
To get started with PayPal Here simply download the app via the Apple App Store or the Android Marketplace (when available).
PayPal will ship the free triangle card reader once you complete the account registration process, but you can process run transactions in the meantime by manually entering card numbers or by using the Scan Card feature.
Customers do not need to have a PayPal account in order to make a purchase from a vendor using PayPal Here to accept payments.
PayPal Here Customer Service
Poor customer service is a well know sticking point with other smartphone processing services such as Square. PayPal Here is positioning itself above the competition with expanded customer service contact options that include telephone support, e-mail support, and also an in-app help feature.