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Most of us know mobile payments are steadily gaining ground among users, but PayPal is one of the rare companies that can give us actual figures. The eBay-owned company says it expects to handle $10 billion in mobile payment transactions this year, which is 150% more than in 2011.
And that’s not all – in the same blog post, PayPal said that its PayPal Here solution is now “generally available” (not sure what that exactly means) in the US and Hong Kong, including for most of 300,000 customers who signed up to the waiting list.
As you probably know, PayPal Here works like Square, allowing multiple payment types, not just credit cards. For card swipes and PayPal payments, the rate is 2.7% and when used with the PayPal business debit card, merchants can also get 1% cash back on eligible purchases, bringing the processing rate down to 1.7%. And to that PayPal’s world-class fraud management capabilities and you can clearly see that PayPal is here to stay in the mobile payments market.
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
