1,000 Merchants per Hour Request PayPal Here 

March 23, 2012

Last week, as CardNotPresent.com reported via Twitter , PayPal unveiled PayPal Here, its integrated solution for small businesses that enables them to accept payments using a smartphone or tablet. This week, the online payments pioneer revealed on its corporate blog that it signed up businesses at a rate of 1,000 per hour during the first 24 hours.

“Clearly there’s a need for a secure, global solution that provides small businesses the flexibility to get paid anytime, anywhere, any way,” writes Anuj Nayar, PayPal’s director of communications.

PayPal’s solution includes a card reader that plugs into the audio jack of a mobile device to accept card payments, putting the company in competition with popular startup Square. PayPal slightly undercut Square on price, offering fees of 2.7 percent per swiped transaction and PayPal payment and 3.5 percent plus $0.15 for keying in CNP transactions or scanning card info.

Nayar says PayPal Here is available only to select merchants in the U.S., Canada, Australia and Hong Kong and will be open to all merchants in those countries in April.