Your Smart Phone Will One Day Replace Cash, and No One Will Be Able to Buy or Sell Without One (Mark of the Beast)

Formats:

1. Square: iOS, Android.
2. PayPal Here: Will work with iOS and Android, though neither is available yet.
3. VeriFone Payware: iOS. No Android app at the moment.
4. Intuit GoPayment: iOS, Android

Design:

1. Square: As the name implies, it's a square-shaped attachment to your smartphone.
2. PayPal Here: PayPal's solution is a triangle about the same size as Square's square.
3. VeriFone Payware: This solution looks like a small docking station. You drop your phone into rather than attach it to the top.
4. Intuit GoPayment: GoPayment is a rounded dongal that attaches to the top of your phone. 

Install Base:

1. Square: More than 1 million customers and $4 billion annually in transaction fees.
2. PayPal Here: Brand new, so not many customers yet.
3. VeriFone Payware: Company has not released any information about its install base.
4. Intuit GoPayment: A company rep declined to say. 

Cost:

1. Square: Charges a fee of 2.75% on every transaction.
2. PayPal Here: Charges a 2.7% fee, though each merchant that signs up gets a PayPal debit card, which earns the merchant back 1% instantly, taking the cut down to 1.7%.
3. VeriFone Payware: $49 yearly activation fee though "additional merchant fees may apply."
4. Intuit GoPayment: Takes a 2.7% cut of every transaction unless you opt for a high-volume plan that offers a 1.7% rate with a $12.95 monthly fee. Intuit also offers a debit card, like PayPal does, but does not currently give merchants 1% back instantly.

[Source]

PayPal Here: Tiny Device to Accept Payments wherever You Go

February 23, 2013

TechPuffs - The most popular online payment processor PayPal has launched small Chip-and-Pin device called PayPal Here to accept payments from credit card or debit card as well as payments through PayPal account.

PayPal is offering the tiny device to only a few selected businesses at first to test. The device will be fully launched in summer this year. At first, it will be available for UK followed by launches in other countries.

PayPal Here is primarily targeted for small businesses and retailers to enable them to accept credit/debit card payments. PayPal will charge 2.7% service fee per transaction for all cards swipes and PayPal payments.

PayPal Here to accept payments wherever you go

David Marcus, President of PayPal said :

At PayPal, we spend a huge amount of time talking and listening to small businesses. They are the core of PayPal’s business and they’ve told us that they want a simple, secure way to take card payments anytime and anywhere they trade.

PayPal Here is a tiny device which will be attached to the seller’s smartphone to accept payments. The device is currently only available for UK and costs GBP £100. The seller will need to install PayPal Here App (compatible with Apple’s iOS or Google’s Android) in his/her smartphone to start accepting payments.

PayPal is not the only one to launch such a device. Similar devices from companies like Intuit, mPowa, iZettle are already available in the market.

PayPal launches smartphone payment device

March 19, 2012

RetailBiz - PayPal Australia has launched PayPal Here, a smartphone application and accessory that turns a mobile phone into a payment acceptance device.

Designed specific for small businesses, service providers and casual sellers, PayPal Here enable merchants to accept credit card and PayPal payments via their smartphone.

The encrypted card reader is a device that attaches to a smartphone and allows merchants to digitally accept and track cash transactions before invoicing their customers. This also means merchants will receive funds from credit card payments immediately.

Brad Paterson, PayPal Asia Pacific head of new ventures, said PayPal Here is a mobile payment solution that helps reduce friction that often occurs during the payment process and evens the playing field for small businesses.

“PayPal Here enables small businesses to accept credit payments and what we’re doing using that technology, coupled with a smartphone, to accept a payment now,” he said

“The main differentiation is that small businesses can accept PayPal payments at point of sale. We’re making sure small businesses will never miss out on a sale ever again.”

Similarly, Carey Kolaga, PayPal chief of operations for global product & experience, said PayPal is the re-architecture of the wallet to the ‘digital wallet’ where there’ll soon be no need for cash, coupons or receipts.

“The move to a cashless society is sooner than we expected,” she said.

Businesses will be able to personalise their internal inventory on the PayPal Here application and provide company-branded and itemised invoices to customers via email or SMS. By amalgamating all payment information into one place, merchants can easily manage the cash flow of their business whilst on the move.

According to Kolaga, the aim is to bring back the old art form of customer service where the retailer knew individually who their customers were and what they were after but in a more innovative and digital form.

With the launch of PayPal Here, PayPal is updating its consumer mobile application to enable a ‘check-in feature’. Customers can check-in to any store accepting PayPal Here and the merchant is instantly notified. Once the customer has placed their order, the merchant can process the payment with PayPal, creating a seamless payment experience, where the customer never even needs to reach for their wallet.

An Andorid version is expected for general realize soon. The smartphone swipe swipe device will be free for any business owner who registers their interest in the first six months from launch here.