Upon sign-up, you will receive a PayPal debit card that gives you one percent back for purchases made using the card. That card will have a 1.7 percent transaction fee. Non PayPal cards will have a 2.7 percent transaction fee, which is .5 percent less than Square.
It’s too early to tell how successful PayPal Here will be against Square. Although a young company, Square has shown impressive growth, processing $4 billion in transactions a year.
A “few thousand” merchants are getting it today, but it won’t be available for everyone for at least a few weeks. If you’re interested in integrating mobile payments into your small business, it’s worth spending some time researching both services.
Jennifer Beese: Jennifer Beese has worked as a community manager and social media strategist. When she’s not writing, you can find her studying anatomy and physiology—she literally has a skeleton in her closet—or under the stars with her telescope.