PayPal EHR 1000 additional registered users per hour, direct competitor is square application software

"Eric Net News" learned that, since the PayPal company launched the mobile payment service PayPal Here, there are tens of millions of registered people. According to the online payment company statistics, in the launch of 24 hours, an hourly increase of 1000 registered users. The direct competitor here in PayPal is the square application (designed to make it faster for credit card consumption and personal payments).

According to PayPal's director of public relations, Annagi Nayar on the official blog, said: "The new PayPal here service to provide more convenient and quick payment for small enterprises, no matter when and where, in more ways to complete the payment, a secure global payment solution is market demand." ”

PayPal here services from square Impromptu card service, which is a free service, in addition to the use of encrypted bank card reader device processing debit cards and credit cards, PayPal here can also use the smartphone camera scanning and processing of bank cards, Allow businesses or individuals to receive payment from credit cards by telephone, which aims to streamline and simplify the process of individual payment transactions. Accounting software company Intuit and electronic Payment solutions Intuit company provide such equipment.

The difference is that PayPal here has a global business, whether in the United States, Canada, Australia and Hong Kong, China have their partners, and will be landing in these countries and other stores in the region next month. And the square service is currently only valid in the United States. In addition, PayPal here more easily get PayPal millions of of users support, and very likely to further expand the scope.

In addition, compared to square, PayPal here has an advantage, that is, the cost rate is low. The cost rate for PayPal here is 2.7%, slightly below Square's 2.75%.