PayPal Triangle is a Mobile Payment App Solution
It's not hip to be Square or so it seems as Pay Pal launches it's own mobile payment app and creates some stiff competition for Square, the dominant mobile payment solution at present. Pay Pal is the largest online payment processor and with its new mobile card reader and payment app it could soon be the largest mobile payment option as well. Mobile payment options allow the seller to receive payments from debit and credit cards on their smartphones with the appropriate hardware and software. This is a major breakthrough for sellers and buyers alike and just may be a part of reshaping the retail business in the future.
Both Square and Pay Pal are offering the mobile payment dongle and the application for free. The dongle is the security device that is plugged into a usb port on your computer or in this case, is plugged into a smartphone. It's purpose is to ensure that only authorized users can access certain software applications. Dongles are used with expensive, high end software programs so most of us have probably never heard of them till now. However with the mobile payment market growing at such a stunning rate, from 16 billion in 2010 to a projected 200 billion by 2015, I'm sure many people are soon to be acquainted with the dongle and the security that it offers potential buyers.
EBay is PayPals parent company and is taking a giant step forward by boldly moving into the mobile payment market with it's attempt to grab a big share of the market from Square. With Pay Pals features you can receive a payment using the card reader or with the camera feature on the smartphone that will work nicely using the combination of the free app and the dongle.
For online sellers this may not seem to be such a big deal at first thought but the possibilities are actually quite amazing. A few examples include:
- Consulting Experts
- Trade Show Sellers
- Fleamarket Venders
Even the Craigslist sellers can “swipe” a buyer’s credit card when they pick up an item. If you have a family member that owes you money, corner them at the next family function and ask for a credit card or a check, give it a swipe using the PayPal Triangle on your smart phone and the debt is paid in full!
This is a commerce changing technology for sure and a worthwhile investment for any small business owner. Visit the site to learn more at: https://www.paypal.com/webapps/mpp/credit-card-reader
Mariam Bahoura says:
I actually started using the PayAnywhere app about a month ago and it works really well. I own a small business and they have low rates, plus the features on the app are pretty cool. Here’s a link to their site, check it out: http://www.payanywhere.com/home.