During eBay’s earnings call today, eBay CEO and President John Donahoe said that over 200,000 merchants have signed up for PayPal Here, the company’s Square-like mobile payments hardware and software platform for small businesses. We haven’t seen any sign-up numbers for the mobile payments service since PayPal revealed it was seeing 1,000 new registrants per hour for the new service.
As you may have heard, PayPal Here offers a triangular add-on that plugs into the headphone jack on your smartphone. Merchants can then accept payments by swiping cards with the thumb-sized card reader or can use the smartphone’s camera to scan credit cards (powered by Card.io), scan checks, etc. PayPal Here offers a flat rate of 2.7 percent for card swipes.
Donahoe says the reader will launch to the public in the second quarter, and will be available in the US, Canada, Hong Kong and Australia at launch. He adds that he’s not sure they can manufacture enough PayPal Here devices to keep up for demand.
For basis of comparison, over 1 million merchants currently use Square to accept credit cards (which is a data point that was released in December, so this number could be higher).
Donahoe also said during the call that eBay would be improving the marketplace checkout experience, search and discovery on the platform. With regard to NFC, Donahoe says that it will be at least a couple of years before you see adoption of NFC at large retailers.
PayPal is an online payments and money transfer service that allows you to send money via email, phone, text message or Skype. They offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards. PayPal Mobile is one of PayPal’s newest products. It allows you to send payments by text message or by using PayPal’s mobile browser. PayPal created the Gausebeck-Levchin test, which is an implementation...