Over 200,000 Merchants Have Signed Up For PayPal Here

    May 1, 2012
    Shaylin Clark
    Comments are off for this post.

Back in March PayPal launched their Square competitor, PayPal Here. Like Square, PayPal Here is a mobile payments solution geared primarily to small businesses (though any business can use it). The service includes a free app available for both iOS and Android, and a credit card reader that plugs into the headphone jack of your mobile device of choice.

PayPal Here grew very popular very quickly. In the first 24 hours the service saw a thousand sign-ups per hour. PayPal Here is currently only available in the U.S, Canada, Australia and Hong Kong. Customers who use the service are charged 2.7% per transaction (0.05% lower than Square’s fee).

In a blog post today, Hill Ferguson, vice president of PayPal Mobile, provided a few updates on how far the service has come in the six weeks since its launch. In the update, Ferguson says that more than 200,000 merchants have signed up for PayPal Here in the countries where it is currently available, and that even more are on the waitlist. As anticipated, the tool has been particularly popular with small businesses, though larger organizations – including the YMCA – have also begun to take advantage of the service.

Despite the fact that there is a waitlist for merchants to join, and despite the fact that PayPal has not actually begun marketing the service yet, Ferguson says thousands of businesses continue to sign up for PayPal Here daily. At current rates, the waitlist should be cleared by June 25th.

Do you use PayPal Here? How does it compare to Square? Let us know what you think in the comments.

  • http://forums.auctionbytes.com/vbulletin/showthread.php?t=24611 Philip Cohen

    “Thousands of businesses sign up for PayPal Here every day.”

    Who says? Not the eBay Dept of Spin, surely?

    There is a rumour afoot that the reason PayPal is now so aggressively applying lengthy holds on seller-users’ funds is because PayPal’s clunky, stand-alone payment system is causing too much trouble for the real banks with charge-backs and other transactional disputes and PreyPal has apparently been told to shape up or ship out, and if they don’t shape up, then they risk having their “merchant account” with the infamous Wells Fargo Bank declared “persona non grata”. (Funny too how the unscrupulous tend to congregate.) This, of course, is the same risk that any unscrupulous merchant account holder faces with the real banks. And what could such action against PreyPal mean? It could effectively mean the end of the clunky PreyPal.

    The fact is the eBay marketplace is still going nowhere; it lags behind ecommerce in general and has been effectively “dead in the water” since John Donahoe started his “destructive renovations” in 2007. The only real organic growth has been from PayPal, and so eBay is now all about “PayPal Payments”—unfortunately, behind that new mask, it’s still the same old, clunky, unscrupulous, regulation-ignoring, fraud-enabling, “merchant of sorts”, PreyPal. That the retail banks / Visa (V.me) / MasterCard will soon enough garrotte this clunky operator, I have absolutely no doubt.

    As for PreyPal’s venture into physical point-of-sale (at Home Depot for instance), in competition with the traditional payment cards, well, I simply can’t stop laughing … But don’t take my word for it, drop into Home Depot and ask them how the clunky PreyPal is going.

    Square has just announced a surge in its takeup. The announcement of PayPal Here, and its subsequent many comparisons with Square, has undoubtedly been the best thing that has ever happened to Square. Obviously, for any small off-eBay merchant, the nauseating thought of dealing with the clunky PreyPal has given Square a boost that Square could have otherwise only dreamed about …

    Regardless, with PayPal “mobile” at physical point-of-sale and “PayPal Here” merchants can expect the full package of PreyPal services: hard-wired “buyer protection”, funds holds, rolling reserves, and all the scamming buyers the criminal facilitator eBay has encouraged to crawl out of the woodwork—won’t that be fun for merchants, just like on eBay …

    And, just for a laugh then, some comment on PayPal’s off-eBay products: “The New Way To Pay In-Store” (at Home Depot), PayPal Here, SmartPay, PayPal Digital Wallet, PayPal Debit MasterCard, PayPal Local and Watch With eBay …


    And, when do we start calling eBay a payments company …


    eBay / PayPal / Donahoe: Dead Men Walking

  • NoSpam ForMe

    What knuckle-head came up with this headline: “PayPal Here Now Used By Over 200,000 Merchants”?

    They aren’t even shipping their reader yet. All they said was that they had 200k accounts apply for their service.

    No one is using it yet; hence the knuckle-head comment.

    How about a true headline that actually matches the story next time?

  • http://suzannamcmahan.com Suzanna

    I love PayPal. As a jewelry artist with no brick and mortar store who goes to markets and shows, I know that my bottom line will increase when I’m able to start accepting cards.