PayPal offers free mobile payment processing to compete with Square

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Wednesday, 15 May 2013

PayPal offers free mobile payment processing to compete with Square

 In an effort to compete with mobile payment processor Square, PayPal is waiving its fees for anyone who switches from their existing point-of-sale service provider over to Paypal's "PayPal Here" mobile payment processing service or any other PayPal processing service. In a blog post, PayPal president David Marcus said: "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."

PayPal Here competes with the popular Square payment processor; merchants sign up for service and attach a mobile credit card reader to theirphone or tablet. The standard per-transaction fee for PayPal Here is 2.7%, but through the rest of 2013 merchants signing up for PayPal's services will not have to pay that fee.

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