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PayPal Waiving Fees for Rest of 2012 on New Mobile Processing Service

PayPal was once just a means of making secure payments over the Internet, but in recent years the payment system has expanded in new directions that small business owners are sure to appreciate.

Just today, PayPal president David Marcus announced that any business, large or small, that dumps the old-style “point-of-sale” system will be welcomed with open arms into the PayPal Here family. PayPal Here is the company’s new mobile processing service that charges a small percentage for every transaction, but doesn’t charge any yearly or monthly fees to maintain. However, if companies ditch their old POS systems within the next week, Marcus says that PayPal Here will be absolutely free for the next seven months.

PayPal Here’s new service offers more payment types than the traditional POS does. “We will offer free credit, debit card, check, and of course PayPal processing for the remainder of the year to any qualifying U.S business turning in their dusty old cash register in exchange for a modern solution like PayPal Here (iPad, card reader, iPad stand, cash drawer, and printer) – ShopKeep, Vend, ERPLY, NCR Silver, and more partners to be announced soon,” said president Marcus in the PayPal blog this morning.

Naturally, PayPal Here has been formed to compete with other mobile-payment systems such as Square. As with Square, PayPal Here allows you to sign up quickly on PayPal. They then send you the reader you attach to your device for free. Download the application, and you’re good to go – with a 2.7{7e4ee7cd997d36f6dec43befd6b19c37edf0959bbf61766e988f901dd91e96d7} transaction fee after January 1st of 2014. Square currently charges 2.75{7e4ee7cd997d36f6dec43befd6b19c37edf0959bbf61766e988f901dd91e96d7} for transactions, but like PayPal, they don’t charge any additional fees.

Mobile payment processing is just the beginning, and PayPal is expected to announce other forms of innovative services within the next year.

Used with permission from Article Aggregator

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