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Wed June 20 2012 13:44:41

Denver EOL Touts 'PayPal Here' Mobile Card Reader

By: Julia Wilkinson

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The videos from Denver eBay on Location are out, and one of the sessions, "Innovations in Payment Processing," had PayPal execs showing stats about the huge growth in mobile payments, and a demo of the company's new "PayPal Here" card reader/payment app, which it says is "the simple way to accept any form of payment on your smartphone anywhere, so you never miss a sales opportunity and can grow your business with confidence."

The company showed several videos featuring the new payment solution, including a mobile caterer who used the PayPal card reader to process payments for the food business he runs out of his van. (You can view the videos within the session video).

PayPal execs Kent Griffin and Martin Herbst said "PayPal Here," while not first to market, is the "best solution in the market," featuring not only a free app, but supporting payments beyond credit cards (merchants can accept a check, and customers can sign using their fingertip on a mobile phone), 1% cash back on a debit card, free check processing, and live customer support by telephone. (PayPal Here is going up against payment solutions Square, and GoPayment by Intuit).

Herbst and Griffin passed around a sample of the card reader to the audience, but quipped that they "needed it back," as one of the readers had gone missing at a previous conference.

They also said "PayPal Here" was off to a big start, with over 250,000 signups worldwide to date. They said the app would be widely available after June 25, 2012.

The numbers for mobile growth are impressive. PayPal processed $4 billion in total payments volume on mobile devices in 2011, a five times growth from the year before.  And from Cyber Monday of 2010 to Cyber Monday of the following year, they grew 552%.

What do you think of this mobile payments solution? Do you think you will use the PayPal Here app on your smartphone, or also the card reader device? Will this help your business, especially if you sell face to face at places like flea markets? Post a comment here!




Comments (4) | Permalink

Readers Comments

Denver EOL Touts 'PayPal Here' Mobile Card Reader   Denver EOL Touts 'PayPal Here' Mobile Card Reader

This user has validated their user name. by: Ed Gadfly

Wed Jun 20 18:07:31 2012

Home Depot is the only place I've ever seen a blue devil. The clerk said she NEVER saw anyone use PreyPal.

I went to the Nordstrom store and they refused PreyPal.

I guess that's the ''Nordstrom Experience'' everyone raves about.

Denver EOL Touts 'PayPal Here' Mobile Card Reader   Denver EOL Touts 'PayPal Here' Mobile Card Reader

This user has validated their user name. by: Spartacus

Wed Jun 20 18:18:49 2012

I use Square and couldn't be happier.

Using Paypal for anything other than eBay (where it's forced on you) is just asking for trouble considering most "Paypal froze my account" complaints come from merchants using Paypal for off-eBay transactions.

Also, eBay and Paypal can't even program a website to operate glitch free, I don't think I'd trust any app of theirs running on my phone.

Denver EOL Touts 'PayPal Here' Mobile Card Reader   Denver EOL Touts 'PayPal Here' Mobile Card Reader

by: JustTheFacts This user has validated their user name.

Thu Jun 21 23:42:33 2012

My concern with this is what ELSE is paypal taking once you hook it up to your phone?

I do not trust paypal enough to believe that there is not something in that reader that reads FAR MORE than a paypal transaction.

I think the READER should be READ.

Denver EOL Touts 'PayPal Here' Mobile Card Reader   Denver EOL Touts 'PayPal Here' Mobile Card Reader

This user has validated their user name. by: Ming the Merciless

Mon Jun 25 00:06:12 2012

Anyone considering using PreyPal off ebay should remember that per ebay policy that ANY customer dissatisfaction in ANY venue using ANY method of payment counts against a seller's claim count on ebay.

Anytime ebay or Preypal says they designed soemthing with the seller in mind means exactly the opposite.

How many changes has PreyPal made that benfitted you or your business?

The cretins who make these decisions and changes don't sell so at best they're guessing what might benefit sellers because, God forbid, they would conduct legitimate focus groups with experienced sellers concerning what actually would benefit them.

Everything these fourth raters do is based on what's best ebay or PreyPal NOT what's best for us sellers.

More fluff brought to you from the sociopathic Silicon Valley spinmeisters who'd refuse to tell the truth if their lives depended on it.



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