Sunday, March 18, 2012

PayPal Here

PayPal is now working on a new product called PayPal Here. It's basically a credit card/debit card readers for modern smartphones (Android and iOS) that enables you to do transactions from your phone (micropayment). You can also use your PayPal balance to pay for the transactions. PayPal will charge 2.7% per transactions as flat fee. Unfortunately, Indonesia is not on their current plan list as they started with Hong Kong and Australia for their first target.

They will be head-to-head with Square who already worked on this product earlier. With the future of E-Commerce lies in smart phones, future micropayment will be much much more simpler than ever and new services like this will become a global trend.