Smartphones, transformed in payment instruments with PayPal Here

PayPal launched, yesterday, PayPal Here, a tool that’s going to transform the future of commerce for small businesses around the globe. PayPal Here is available for the moment exclusively for selected merchants in the US, Canada, Australia and Hong Kong and it will open to all other merchants in those countries next month.

The new service includes a free app and fully encrypted thumb-sized card reader, which turns any iPhone, and soon Android smartphone, into a mobile payment solution.

As David Marcus, VicePresident PayPal Mobile says, PayPal has along history in helping small businesses and helping small business owners get paid is in its  DNA.

PayPal Here is a global mobile payment solution that allows small businesses to accept almost any form of payment. Designed to help those merchants make more sales and grow their business with confidence, it allows them to accept payments by swiping cards with a fully encrypted thumb-sized card reader, or use a phone camera to scan and process cards and checks. It also allows them to invoice directly from the mobile app and to accept PayPal payments.

PayPal Here benefits of PayPal’s world-class fraud management capabilities and 24×7 live customer support. Also, PayPal Here offers a simple flat rate of 2.7% for card swipes and PayPal payments. Merchants are also given a business debit card for quick access to their funds and 1% cash back on eligible purchases – which means if you use the debit card, your fees are actually just 1.7%.