Rating: A mobile payment solution but not as you know it, Jim
When GoMobile News first saw the words “first global mobile payment solution for small businesses”, we naturally assumed that this must be a new way of paying for goods and services via a mobile phone. It’s not. PayPal Here is actually a way of accepting payments using a mobile phone. The cleverest thing about this offering in our humble opinion is the actual card reader. The app initially only appears to be available for iOS but we assume when the Android version appears it will be the same. The card reader fits into your mobile handset via the audio port and enables the handset’s owner to swipe credit/debit cards in the normal way. As a solution for businesses attending music festivals, it is ideal. However, GoMobile News is not sure that it will actually catch on. The snag is that the money you take as a small business is actually paid into your PayPal account.
As GoMobile News has pointed out plenty of times before – PayPal is not a bank. Therefore – certainly in Europe – the company is not regulated as a bank.
Just try to have a dispute with this company (which is owned by eBay, of course) over a payment and you’ll find out exactly what that means.
If you are prepared to take the risk, then PayPal Here can be used to accept debit and credit cards, cheques and payments via PayPal. It will also enable you to send out invoices.
The PayPal Here app is also simple to use. You basically set the kind of payment method you want to use.
If you’re using debit or credit, then you simply swipe the card through the dinky little card reader.
Next get the purchaser to sign for the purchase using touchscreen input and then you can send a receipt to the phone number that the customer provides.
The initial roll out will be in North America, Australia and Hong Kong.
It is accompanied by a new version of Paypal Here for iPhone which will enable users to find the nearest merchants using the system.
An interesting concept that given that the prime users of this system will be mobile.
If you want any more detailed information – including the charges for using the system you can find it here.
We also suggest you read the comments against that particular story.