PayPal Push "PayPal Here" new payment services, using smartphones to complete credit card payment transactions

According to Reuters, PayPal in Thursday in the United States, Canada, Australia and Hong Kong four simultaneous launch of a "PayPal here" new payment services. Through this service, the merchant or individual will be able to use the smartphone and a card reader device to complete the credit card payment transaction with the consumer.

PayPal's new service creates a direct competitive relationship with the innovative Enterprise square. PayPal said that as long as the merchant completed the "PayPal Here" service registration, it will be free to receive a triangular card reader, as well as a supporting use of mobile applications.

The program is connected with the card reader through the adapter. Adapters for Google's Android smartphone will be released later, with the adapter supporting only devices such as Apple's iphone.

PayPal's move is intended to challenge the real-store mobile payment service Pioneer Square. PayPal emphasizes that its technology is safe and secure, and that all credit card information has been encrypted inside the reader to prevent businesses from taking the opportunity to get consumer-sensitive information.

PayPal charges 2.7% of all credit card transactions, including an American Express credit card with the usual higher transaction costs. Compared with rival Square, the latter has a 2.75% per cent transaction fee.