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Table of Contents

Lead Story

Security and the changing face of the POS

News

Industry Update

PayPal introduces dongle for smart phone payments

Good works make for good TV

Square deals

Retailers looking for larger role in POS mobile

TradeHill takes Dwolla to court

Features

Court affirms viability of merchant's direct claim against Visa

Eugene Rome and Liz Wang
Rome & Associates A.P.C.

Research Rundown

Mobile Payments Conference raises EMV questions

Meet The Expert: Justin Milmeister

ISOMetrics:
Payments industry 2012 salary guide

Selling Prepaid

Prepaid in brief

APPPA to tackle calling card complexities

Big challenge to comply with AML's 'Big Seven'

Views

Micropayments are no small matter

Patti Murphy
ProScribes Inc.

New developments in payments (and winemaking)

Brandes Elitch
CrossCheck Inc.

Education

Street SmartsSM:
A year of learning, writing, sharing

Bill Pirtle
C3ET Credit Card Consortia for Education & Training Inc.

Mining the digital gold rush

Dale S. Laszig
Castles Technology Co. Ltd.

Enhance your security protocols

Nicholas Cucci
Network Merchants Inc.

Pricing surprises: Don't let processors eat your lunch

Adam Atlas
Attorney at Law

Company Profile

2000Charge Inc.

New Products

An EMV/NFC ready POS terminal

Xion 2.5
First American Payment Systems L.P.

Mobilizing agents

CB Mobile Office
Merchant Warehouse

Inspiration

Big results from small talk

Miscellaneous

2012 events Calendar

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

March 26, 2012  •  Issue 12:03:02

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PayPal introduces dongle for smart phone payments

On March 15, 2012, PayPal Inc. took a swing at mobile payment startup Square Inc. and others offering smart-phone payment solutions when it introduced its PayPal Here mobile payment solution.

The new payment service includes a free app and an end-to-end encrypted card reader that attaches to Apple Inc. iPhones and Google Inc. Android smart phones to allow payment acceptance anywhere. PayPal said the new service accepts more types of payments than any other solution on the market today.

ROAM Data Inc. was reportedly the first to introduce a payment dongle for mobile phones in 2010. Its ROAMpay is compatible with all mobile phone types. Square Inc. introduced its competing swipe device shortly thereafter and has gained media attention and market traction. Several other companies also offer payment solutions that use smart phones and tablet computers for payment acceptance.

PayPal said its app, unlike those of its competitors, will accept not only credit cards but will allow merchants to use a phone camera to accept and process checks, invoice from the app, allow manually keyed in or scanned card information, track cash payments and accept PayPal payments.

Responding to small business needs

PayPal is offering a flat fee of 2.7 percent per transaction. Square's fee is 2.75 percent. PayPal is also offering merchants a debit card for quick access to their cash. The card offers 1 percent cash back on purchases. "If merchants use the debit card for purchases, fees effectively come down to 1.7 percent," PayPal said.

In addition, PayPal said all transactions offer end-to-end encryption, and the company is providing full-time customer support around the world for the service. PayPal Here will soon be available to merchants in the United States, Canada, Australia and Hong Kong. The company plans to introduce the service to more countries soon.

David Marcus, PayPal's Vice President of Mobile, said, "We've heard small businesses loud and clear. They don't want to miss sales opportunities because they can't accept the payment type that their customers want to use.

"They want quick access to their money, a reliable card reader, and one transparent, low fee to process these payments. I'm thrilled to launch PayPal Here because we've been able to bring all of these key features together into a product that's so simple to use."

For additional news stories, please visit www.greensheet.com and click on "Read the Entire Story" in the center column below the latest news story excerpt. This will take you to the full text of that story, followed by all other news stories posted online.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Impact Paysystems | Electronic Merchant Systems | Board Studios