PayPal announces Square.com Alternative - PayPal Here

Has anyone heard of this yet? Many people know about the Square card reader. It is a small device you plug into your phone, and gives you the ability to swipe credit cards. Square takes 2.75% of each transaction.

Well now, PayPal is coming out with their own version of square and it is called PayPal Here. Also, PayPal Here will be charging .5% less of a transaction fee than Square at 2.7% flat. I am particularly excited for this because it brings a new element to offline marketing. Going around business' and doing small work of $20-50 can really generate a awesome. PayPal Here has not been released yet, but I signed up for exclusive updates via their website.

Do any of you plan on utilizing something like this to generate a new stream of offline income? Does anyone use Square right now?

I'm staying away with anything Paypal brings out.

But it looks pretty cool! Especially with the smaller fee.

been using square for months now. I use it for my web design clients locally and when i need to just enter the credit card# manually. Be prepared though, they do require you own a legit business to process more than $1000 a week. Even when showing documents such as tax returns etc, i am still having funds held for 30 days because i went over the $2000 a limit per week they gave me. Just my experience, they are good but there is no phone support its all though email which sort of sucks even though they get back to me in a decent time frame. Some people may have to supply documentation right away when signing up. I was using them as an alternative merchant account, the larger clients i will continue to use my bank merchant since they funds are not held like square does.

paypal - ughhh i probably wont try this.

Dang I didn't even know that Square had all of those guidelines

Will it be launched in all countries at once ?

interesting concept for sure

I have used square, but just switched over to intuit (quickbooks).

Their rates are over 1% cheaper. The Swiper works great on my iPhone and some of the guys use Druids and it works well for them.

The lower rate really adds up if you are doing any volume.

I don't trust Paypal for anything..

Rather pay the 2% extra fee by Square instead of looking at Paypal. Wait and see... I wouldn't be suprised if try to incorporate this with eBay itself, and start taking an eBay "fee" as well...

Interesting..but like others mentioned, i try and stay away from PayPal.

I would get it when 2CO and Moneybookers get it. Paypal sucks plain and simple, although the concept is really cool.