Where can i buy a paypal card reader: Chip and Swipe Reader – PayPal Here US


Chip and Swipe Reader – PayPal Here US

Details & Specifications


Connection Type:
– Requires Bluetooth 4.0 or above.

Home Connects Line:
Connects wirelessly via to the PayPal Here app on your compatible smartphone or tablet.

Home Accept Text:

Magstripe and chip cards.

Home Desc:

Great for merchants on the go or in-store who want to accept the widest array of payment types.

Payment Types Image:

Payment Types clone:

Accepts EMV chip cards and traditional magstripe credit and debit cards.

Card Processing Options:

Chip, Swipe

Home Accept Image:


Comparison Chart Link:



Compatible with most iOS® and Android mobile phones and tablets.


1.75 Ounces

Home bullet-ideal for:

Ideal for on-the-go payments.


Payment supported: Chip and Magnetic-Stripe

Get paid in person and on the go with PayPal Here. The PayPal Chip and Swipe card reader and our PayPal Here app help keep transactions secure for you and your customers. Accept chip cards and traditional magnetic-stripe cards, send invoices from the app or online, and even record cash and check transactions on your compatible phone or tablet.

Works with all types of businesses. From quick service restaurants to retail to service-based professionals, PayPal Here can handle your unique business.

PayPal is PCI-DSS compliant and supports EMV-certified devices to help keep your transactions and customers’ financial information protected.

Package includes: PayPal Chip and Swipe Reader, device clip, point-of-sale sticker, and micro USB cable for charging

See how this reader works

PayPal’s Mobile Credit Card Reader: PayPal Here

  • PayPal Here and PayPal Zettle are the digital payment processor’s credit card reader and app solutions that allow businesses to accept payments through a single platform.
  • PayPal Here and PayPal Zettle are celebrated for their ease of use and ability to accept multiple forms of payment.
  • Users of PayPal’s mobile payment solutions can expect to pay fees on transactions and, in some cases, to purchase the card reader.
  • This article is for business owners looking for a way to accept payments from customers who shop in person.

PayPal is best known for its payment processing solutions for online merchants and shoppers. But did you know that the company also has a processing solution for in-store and mobile merchants? We’ll detail what we found in our review of PayPal Here and the newer PayPal Zettle offers and what you need to know before signing up.

What is PayPal Here?

Introduced in 2012, PayPal Here is a credit card reader and accompanying app that allows businesses and individuals to accept a wide range of payments, including credit cards and contactless payments, on iOS and Android devices.  

What is PayPal Zettle?

As of 2021, PayPal has transitioned its mobile and POS transaction solutions from PayPal Here to PayPal Zettle. All new merchants will be signing up under PayPal Zettle. This is a benefit for many businesses, because not only does PayPal Zettle offer a full suite of POS hardware and free POS software, but its processing fees are less than PayPal Here at 2.29% + $0.09

However, existing PayPal Here merchants can still access and use the mobile app and continue doing business the same way. This is a good option if you do not need all the POS bells and whistles or if you have a high volume of low-dollar-amount purchases.

Editor’s note: Looking for the right accounting software for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.

Credit card processing can be pricey, but the costs associated with using PayPal’s payment processing apps and readers are reasonable. It’s free to sign up for the service, and there are no contracts or monthly fees. You only pay a fee for each payment you accept. Businesses or individuals sign up for a business account with PayPal – or upgrade their existing accounts – and then download the PayPal Zettle app (also free) on a mobile device.

If you sign up for PayPal Zettle directly through PayPal, you’ll receive a Chip, Swipe and Tap card reader for $29 rather than the regular price of $79. If you want additional card readers, a POS terminal, a cash box or other accessories, you will pay extra for those.

PayPal Zettle is a great solution for mobile credit card processing. Some business owners are unsure about mobile card processing, but it is easy to set up, affordable, and secure.

Key takeaway: PayPal Zettle is a credit card reader and business solution connected to your company’s PayPal account.

PayPal vs. PayPal Zettle: What’s the difference?

PayPal is a consumer-centric product, while PayPal Zettle is designed as a business solution. PayPal’s website and app make it easy for friends and family to send money to one another at no extra cost. Consumers can also use their PayPal accounts to make payments to businesses, both brick-and-mortar and online, and to make charitable donations to their chosen organizations.

PayPal Zettle is primarily a business solution for merchants looking for a way to accept all types of payments, including PayPal, for goods and services. PayPal Zettle allows merchants to process payments from all the major credit cards, debit cards, PayPal and Venmo accounts, and other mobile payment apps. PayPal Zettle has a separate app for accepting and managing these payments; this app also includes tools that allow merchants to send invoices, manage inventory and set prices.

Key takeaway: PayPal is a consumer product that allows users to send and receive money from friends and family, while PayPal Zettle is a business solution that allows merchants to accept all types of cards and other payment methods.

PayPal card reader options

If you’ve ever used a mobile credit card reader, then you know just how important the design of the devices can be. PayPal Here gives you three designs to choose from: the Chip and Swipe Reader, the Chip and Tap Reader, and the Chip and Tap Bundle.

The Chip and Swipe Reader 

This reader is free when you set up your account, but additional units cost $24.99. It accepts major credit cards, whether they have a magnetic stripe or chip. You swipe the card in the slot on one side of the reader or insert the EMV chip at the top of the reader for fast and secure payment processing. The device is 3 by 2.1 inches and connects to your iOS or Android phone or tablet via Bluetooth. It includes a micro-USB cable for charging. 

This reader is compatible with the Heckler Design Windfall Stand, which fits the iPad Air and Air 2, as well as the Studio Proper Swivel Stand, which fits the iPad Air, Air 2 and Pro 9.7-inch in a more permanent way for fixed operations. If you want the ability to print receipts, you can get the Star Micronics SM-S230i Mobile Bluetooth printer.

The Chip and Tap Reader 

The Chip and Tap Reader costs $59.99. It accepts cards with magnetic stripes, EMV chips and contactless technology (where consumers tap their card to the reader). It also accepts digital wallets such as Apple Pay, Samsung Pay and Google Pay.

The reader is 2.64 by 2.46 inches and weighs 2.3 ounces. Like the Chip and Swipe Reader, it has one slot for swiping and another on the top for inserting chip cards. In addition, buyers can tap their cards on the flat surface of the reader where the contactless icon is printed. 

Likewise, when making a payment from alternative digital wallets like Apple Pay, Samsung Pay, or Google Pay, your customer will open the appropriate payment app on their phone and place the phone on the contactless icon on the Chip and Tap Reader. When the transaction is complete, you will hear a ding and a checkmark will display on the customer’s payment app. Some contactless payments require a signature; if this is the case, the signature window will automatically appear on your mobile device.

The Chip and Tap reader is compatible with the Studio Proper Swivel Stand, which fits the iPad Air, Air 2, and Pro 9.7-inch as well as the Epson TM-T20II Ethernet Plus thermal printer for printing hard copy receipts.

The Chip and Tap Bundle 

The Chip and Tap Bundle costs $79.99 and includes the Chip and Tap Reader and a charging stand for the reader.

These Bluetooth-enabled devices sync with any smartphone or tablet equipped with Bluetooth 4.0 or above, eliminating the need to attach the devices to a charge port or headphone jack on your smartphone or tablet. All PayPal Here devices are rechargeable, with an optional charging stand available for more permanent placement at checkout. To get started, all a merchant needs to do is download the PayPal Here app, set up their account, and pair their chosen reader to their devices.

Neither the Chip and Swipe nor the Chip and Tap device currently allows customers to input a PIN for debit transactions, although all PayPal Here readers accept debit and credit cards. If you want to give your customers the ability to input their PINs, PayPal offers a more robust point-of-sale solution called Zettle. The Zettle card reader costs $29 and has all of the capabilities of the Chip and Tap reader, plus the ability for customers to input their PINs. Zettle also has a range of POS store kits, including stands, printers, card readers and barcode scanners.

PayPal Here benefits 

When you sign up for PayPal Here, you’ll have access to a suite of features that lets you accept many forms of payment while issuing invoices, managing inventory and more. Here are the benefits you can expect when you sign up for PayPal Here:

Merchant-friendly software

The PayPal Here app is easy to use and, like most mobile payment apps, uses end-to-end encryption (in addition to an encrypted card reader) to keep your transactions secure.

Merchants can set up the app to calculate sales tax, apply discounts and suggest tips. One unique feature is that it allows you to accept PayPal and Venmo payments using QR codes.

You can manage inventory with PayPal Here using the item catalog. You can upload a photo for each product, add prices and variations like size or color, and organize your items into categories or lists.

If you have employees, you can add them to your account as users. Each will have their own username and password, and you can decide which features they’ll be able to access.

When you’re running sales reports from PayPal Here, you can choose weekly, monthly, annual or custom time periods. You can also filter your sales by date, salesperson, product or payment type. Reports can be printed, emailed or exported to CSV files.

PayPal Here can fully integrate with other POS hardware, like cash drawers and receipt printers, making checkout easier for small retailers.

More ways to get paid

Like most mobile payment processors, PayPal Here lets merchants accept all major credit and debit cards, including Visa, Mastercard, Discover and American Express. In addition to accepting cards, merchants can accept mobile payment apps like Venmo, Apple Pay and Google Pay. This is a huge advantage, since 60% of Americans use mobile payment apps, including 65% of millennials and 54% of Gen Z, according to a YouGov survey. You can even record and track cash payments through the app, making accounting easier.

Customers using PayPal’s mobile app on their smartphones can choose to pay through the app. They simply sign in to the app on their phones, check in with a business, and confirm their payment to a merchant’s PayPal account.

PayPal Here also allows you to send customers invoices directly through the app, making it easy to keep track of your accounts receivable.

While PayPal Here’s wide selection of payment methods is a big draw for many merchants, some companies prefer not to use PayPal as their payment processor because of the company’s alternative method of depositing merchant funds. Unlike traditional card processing companies, which deposit the funds from credit card and other payments directly into a merchant’s bank account, PayPal deposits merchant funds directly into a merchant’s PayPal account. From there, you can transfer the funds to your business bank account. If you want faster access to your money, you can apply for the PayPal Business Debit Mastercard, which allows you to use your PayPal funds to make purchases in person or withdraw cash from your account at any ATM. 

Great customer service

One of the benefits of using a well-established payment processing company like PayPal to accept mobile payments is that you have access to a wide array of support and troubleshooting resources. If you have trouble with PayPal Here, you can reach out to PayPal via email, telephone and even social media.

The company has a Twitter account just for troubleshooting (@AskPayPal), where it answers customer questions in English, French, German, Portuguese, Russian and Spanish. PayPal also has various sites for troubleshooting and answering questions about its products, including a help center and a community forum.

But its solid customer service doesn’t seem to make up for what some merchants view as PayPal’s overly suspicious approach to fraud detection. PayPal often receives negative feedback from merchants who have had their funds withheld or their accounts frozen or terminated because of suspected fraud or suspicious processing activity. 

Many other credit card processors, including Square, are accused of the same thing. After all, merchants are susceptible to credit card fraud, and payment processors are generally cautious. Some things that can cause the processors to flag your account are abnormally large transactions, sudden spikes in transaction volume, and an excessive number of chargebacks.

Because having your funds withheld or your account frozen is more common when you use a mobile card processor (because the risk of fraud is considered greater), merchants looking for a payment processing solution that’s less prone to these glitches may want to consider traditional credit card processing companies that also offer mobile solutions for business.

Key takeaway: PayPal Here gives business owners a convenient way to accept credit cards and contactless payments from their customers. The app is easy to use, card readers are equipped with the newest technology, and the company offers extensive customer support.

What does PayPal Here cost?

The cost of using PayPal Here’s card processing service is fair, with a card-present discounted rate of 2.7% and no additional transaction fees. Keyed-in credit and debit card payments are a bit pricier (due to the greater risk of fraud with card-not-present transactions), costing you 3.5% of the total sale plus a transaction fee of 15 cents. 

You can accept your customer’s PayPal or Venmo QR code for the standard 2.7% fee. All PayPal Here transactions conducted internationally are charged an additional 1.5%, no matter which transaction is conducted.

Merchants can also accept other forms of payment with PayPal Here, including direct payments from a customer’s PayPal account. This payment option, called PayPal Check-In, also carries a discounted rate of 2.7%. For detailed information about the merchant fees associated with PayPal Here, visit the company’s merchant page.

In addition to paying transactional fees, you need to purchase PayPal Here hardware to use the service. As mentioned above, PayPal Here offers three options. The Chip and Swipe Reader is free for new PayPal Here customers; existing customers can purchase the Chip and Swipe Reader for $24.99. The Chip and Tap Reader costs $59.99 (or $79.99 if you want a charging stand bundled with it), and the Chip Card Reader costs $99.99.

Key takeaway: PayPal Here users will pay fees depending on the transaction type. The PayPal Here Chip and Swipe Reader is free for new customers. Other card readers cost $24.99 to $99.99, depending on the model.

Pros and cons of PayPal Here

While PayPal Here has its good points, it is not for everybody. The pros and cons of PayPal Here include the following:


  • It has a variety of card readers to fit your needs.
  • The merchant-friendly software is easy to use and can be customized to calculate sales tax, apply discounts, send invoices, run sales reports and track inventory.
  • It can integrate fully with other POS hardware, like receipt printers and cash drawers.
  • It gives you the ability to accept payment via PayPal mobile app, Venmo, Apple Pay, Samsung Pay, and Google Pay with the Chip and Tap Reader. 
  • It has great customer service.
  • It has flat-rate pricing across payment types with no monthly fees.
  • It’s compatible with a variety of mobile devices.


  • It has fewer features than Square’s mobile payment system, which gives users the ability to scan and print barcodes for retail, adjustable floor plans, a kitchen display system for restaurants, and a loyalty program module.
  • It’s not ideal for high-volume merchants.
  • It’s prone to fraud freezes (this is when PayPal freezes access to your account because it suspects fraudulent transactions).
  • Sales proceeds are deposited into your PayPal account rather than your bank account, entailing an extra step.

How to get started with PayPal Here

Merchants can no longer sign up for PayPal Here, but they are eligible for PayPal Zettle. If you already have a PayPal Here account, you may continue using the mobile application by following these steps:

  1. Apply for a PayPal business account.
  2. Download the PayPal Here app. This is separate from the regular PayPal app, so make sure you’re downloading the right one. The app is available for both iOS and Android.
  3. Set up your business profile. This includes inputting your business name and address and uploading a logo or other recognizable branding to your profile so customers can easily find you.
  4. Customize receipts. You can customize the information that appears on receipts, such as your website, customer service information or social media handles.

Jennifer Dublino contributed to the writing and research in this article.

PayPal Here Review: Is This Mobile POS Right for You?

If you rely on PayPal to process payment from customers, vendors or both, then you might be wondering what your PayPal credit card reader options are. The online invoicing that PayPal offers can be a lifesaver for companies that need to remotely access payment from customers. But for those moments that you find yourself face-to-face with your customer who’s ready and willing to pay you for your goods or services, nothing is quite as annoying as having them type out all of their card information.

That’s why PayPal made its payment processing app PayPal Here and the PayPal card readers that allow users to process magstripe, chip and contactless payments with a swipe, dip or tap.

A rundown on your PayPal Here card reader options

There are four versions of the PayPal credit card reader that work in tandem with the PayPal Here payment processing app. PayPal credit card reader costs will depend on which option you go with, but you always have to pay a transaction fee (typically 2.7%) for each payment you process through your PayPal card reader:

  1. The Mobile PayPal card reader requires a headphone jack to connect to a smart device and only reads magstripe payments.

  2. The Chip and Swipe PayPal card reader connects wirelessly to smart devices and reads magstripe and chip payments

  3. The Chip and Tap PayPal card reader connects wirelessly to smart devices and reads magstripe, chip and contactless payments.

The Chip PayPal card reader has all of the features of the Chip and Tap version, plus a keypad for pin entry.

How does it work?

How the PayPal Here card reader works will depend on which of the four versions you opt for. For instance, the Mobile PayPal card reader will plug into the headphone jack of whatever smart device you are using the PayPal Here app with. The other four PayPal card readers will connect your smart device through Bluetooth.

No matter which PayPal card reader you choose, though, you will need a smart device — whether that’s a smartphone or a tablet — to accompany it. The smart device will run the PayPal Here app, and the PayPal card reader will allow this app to process magstripe, chip and/or contactless payments (which will depend on which reader you opt for).

Pros and cons

Let’s take a high-level look into where PayPal Here shines and where it falls short.


  • Variety of connectivity options.

  • Great device compatibility.

  • Best for smaller merchants.


  • Fewer features and options compared to Square mobile POS.

  • Not suitable for high-volume merchants.

Your PayPal card reader options

Let’s drill into the details of each of these options.

Mobile PayPal card reader

The simplest of the PayPal credit card readers, the Mobile PayPal card reader simply reads magstripe payments.

So, if you want your customers to have the option to pay with chip or contactless payment, then you’ll need to upgrade from this entry-level PayPal card reader.

As for cost, it will just be a $14.99 one-off fee. That said, you’ll still have to pay all transaction fees that PayPal will charge you.

A small, triangular reader, the Mobile PayPal card reader plugs into the headphone jack of a smart device and works in tandem with the PayPal Here app.

Chip and swipe PayPal card reader

The next step up from the Mobile PayPal card reader is the Chip and Swipe PayPal card reader. Unlike the Mobile version, the Chip and Swipe PayPal credit card reader wirelessly connects to smart devices through Bluetooth. Plus, as its name suggests, the Chip and Swipe PayPal Here card reader is able to process both magstripe and chip payments.

For its extra convenience and flexibility, you’ll pay $24.99 if you opt for this version of the PayPal card reader.

Chip and tap PayPal card reader

If you want to be able to process contactless payments with the PayPal Here app, then you’ll need to take the next step up to the Chip and Tap PayPal card reader. Again, this PayPal Here card reader will connect to your smart device wirelessly via Bluetooth. Plus, it will be able to process magstripe, chip and contactless payments.

To access these payment processing options, you’ll have to swallow the PayPal credit card reader cost of $59.99. If you want to purchase a charging stand for your Chip and Tap PayPal card reader, you’ll have to pay an additional $20 and a total cost of $79.99 for the bundle.

Chip PayPal card reader

Finally, the most costly but most capable of all of your PayPal Here card reader options — the PayPal Chip card reader. This PayPal Here card reader offers the same perks as the Chip and Tap reader and then some. You’ll still be able to accept magstripe, chip and contactless payments with the Chip PayPal card reader. Plus, you’ll still be able to connect to your smart device through Bluetooth.

With the Chip PayPal card reader, however, you’ll get a keypad so that your customers will be able to use their pins to verify their debit card purchases.

For this extra capability, you’ll pay a solid $99.99, so think hard about whether a pin keypad is worth the extra $40.

Transaction fees

On top of these PayPal credit card reader prices, you’ll also need to account for the transaction fees PayPal will charge you for each payment. No matter which PayPal card reader you opt for, you’ll have to pay the following fees to process payments through PayPal Here:

  • 2.7% per magstripe, chip or contactless payment.

  • 3.5% plus 15 cents per payment you manually enter.

So, when you’re calculating your PayPal credit card reader cost, be sure to keep in mind that you’ll need to pay these payment processing fees for every transaction that you use your new reader for.

Which is right for you?

After learning all the details on the four PayPal credit card reader options, you might be unsure which one is right for your business. To decide which of the four PayPal Here card readers is the best fit for your business, you should focus on the following three criteria:


One of the deciding factors for choosing your PayPal Here card reader? How much it costs, of course. Although every PayPal credit card reader costs under $100 — which is pretty reasonable when measured against industry-standard — there’s still a considerable range of prices attached to your options. Decide whether you’re willing to shell out $99.99, if you’d rather stick to paying $14.99 or if you want to find a happy medium somewhere between.


What devices can each PayPal card reader connect to? And how does each reader connect to its compatible devices? Because Bluetooth versus headphone jack connection is one of the defining features of each of your options, be sure to decide what kind of PayPal credit card reader compatibility you’ll need.

Payment types

You’ll need to lend a lot of weight to what kind of payment options you want to give to your customers. If your customers seem content with merely having the option to swipe their cards to make a purchase, then the Mobile PayPal card reader could be enough for your business. However, if you want customers to be able to make chip or contactless payments, then you’ll definitely need to make an upgrade beyond the entry-level PayPal card reader. If you want your customers to be able to enter a pin to verify their debit card purchases, then you’ll need to level all the way up to the Chip PayPal card reader.

Where to buy a PayPal card reader

If you’ve decided to move forward with purchasing one — or several — of these PayPal card readers, then you might be wondering where to buy it. PayPal sells its Here credit card readers through its own site and also through third-party sites like Amazon.

A version of this article was first published on Fundera, a subsidiary of NerdWallet.

PayPal takes on Square with launch of card readers in the U.S.

PayPal Holdings Inc. plans a challenge to Square Inc. as it launches a physical card reader in the U.S.

The move represents the latest attempt by PayPal
to take a bite of in-store commerce, following its introduction of QR-code payments for its mobile-wallet users last year. With the card reader, called Zettle, the company sees opportunities to create a more unified experience for merchants that already use its services online as well as to establish loyalty tie-ins with the PayPal mobile wallet.

The U.S. launch of PayPal’s card reader comes about three years after PayPal acquired iZettle, a European maker of point-of-sale products, for $2.2 billion. Companies like Square
and Shopify Inc.
already offer card readers in addition to online payment capabilities, but PayPal is betting that some of its online customers will want to conduct their in-person and digital sales all with the same provider, especially as physical retail bounces back.

Many merchants are “trying to straddle the three different dimensions of commerce,” PayPal’s senior vice president for omnichannel commerce Jim Magats told MarketWatch, referring to mobile, online and in-store sales. The timing of the Zettle launch “probably couldn’t have been better with the reemergence of face-to-face [commerce],” he continued.

PayPal is also hoping to expand its reach to physical-first merchants, with Magats noting that perhaps a third of U.S. small- and medium-sized businesses don’t have a sales presence on the web. By creating interoperability on back-office functions like inventory and order management, Magats expects that PayPal can appeal to some of these brick-and-mortar sellers that may wish to eventually expand online but don’t want the complications of dealing with two or three providers across the different selling channels.

The merchants that participated in PayPal’s beta rollout of the Zettle reader previously used point-of-sale offerings from companies including Square and Toast, according to Magats. He said one feature that resonated with those in the beta group was that PayPal’s offering played well with the merchants’ existing accounting, order management and other back-office systems.

“You don’t have to rip and replace existing infrastructure,” he said.

PayPal will sell merchants their first Zettle card reader for $29 and offer an option to buy additional readers for $79 apiece. The readers will work with consumer hardware like iPads and iPhones as well as some existing point-of-sale hardware that a merchant may have. The Zettle rate in the U.S. for card transactions will be 2.29% plus 9 cents at launch.

“We believe we’re more competitive on the basics with Zettle on pricing, availability, and speed of funds, as well as interoperability,” Magats said.

Square lists a standard processing fee of 2.6% plus 10 cents for card payments made through traditional methods like swiping or tapping.

Eventually PayPal’s goal is to drive connections between its merchant offerings and its vast network of about 150 million U. S. consumers who use either the PayPal or Venmo mobile wallets. Magats suggested that the company could ultimately tap into the “community aspect of Venmo” as a “demand generator” for Zettle merchants or introduce loyalty offerings focused on local businesses.

Square recently began linking its Cash App mobile wallet with its merchant business, making it so shoppers who earn rewards from Square sellers can manage those rewards from within the Cash App. The move won praise from analysts.

PayPal Here vs. Square: Which Should You Choose?

Square PayPal Here Advantage

Credit & Debit Card Processing Rates

Swiped: 2.6% plus $0.10
Keyed: 3.50% plus $0.15
Swiped: 2.70%
Keyed: 3.50% plus $0.15
A main competitive advantage that has allowed Square to hold the top spot in the mobile processing market has been the company’s ability to offer a flat processing rate with no credit card transaction fee. Until PayPal Here, competing mobile solutions relied on traditional merchant accounts often paired with a third-party mobile application like ROAMpay where transaction fees can range upwards of $0.25.

However, in autumn of 2019, Square did away with it’s flat 2.75% rate in favor of a 2.6% + $0.10 rate. So far, PayPal Here has not indicated that they will add a transaction fee. The lower cost solution will depend primarily on whether you have fewer large transactions (in which case, the lower percentage from Square may be the better fit) or many smaller transactions. (In which case, the lack of transaction fee from PayPal Here will be the better fit.

Fees for Refunds

No new fees; fees originally paid will be refunded to you. No new fees; fees originally paid will not be refunded to you.
As of May 9, 2019, PayPal will no longer return the fees that you paid on a transaction if you refund your customer. For businesses that process lots of refunds (such as clothing stores) that can add up quickly.

If you regularly refund customers, Square is the clear winner.

Check Processing Rate

Check Processing Not Offered Included free
Checks aren’t exactly mainstream these days, and the future of the check printing market is looking pretty bleak. But PayPal has been around a while, and the infrastructure to process and settle checks is already in place, so why not add another bullet point to the PayPal Here feature list?

Start Up Cost

Free, depending on reader Free, depending on reader
Square and PayPal Here both supply mobile card readers and apps. The mobile readers for both Square and Here plug in to the headphone jack of an electronic device.

The basic free reader from both companies only accepts magnetic strip credit and debit cards. Both offer a chip card reader, but it comes at an additional cost. Readers that also accept contactless payment methods are avaiable for a cost as well.

Customer Service

No phone number, difficult/impossible to contact, just an online Help Center. Phone number, email support, community support, more
Square’s customer service is virtually non-existent, and contacting a representative via phone is nearly impossible. Square seems to think that a simple online Help Center is enough support for its growing user base. While the company says that current business owners can get in touch by phone after receiving a merchant call-in code, many businesses still report difficulty getting in touch.

PayPal Here, on the other hand, has all of the support channels you would expect for a company offering credit card processing services. PayPal provides phone, email, and online support for its users. And the company also provides support via a development community.

Credit Check

No Credit Check Required Credit & Background Check Required
Square will give the ability to process credit cards to virtually anyone. Whether this is a good thing or not is open for debate, but it’s a leg up on PayPal.

Many complaints about PayPal Here stem from the credit check and background verification that PayPal requires before issuing a user an account.

Payment Channels

  • Credit and signature debit cards: Visa, MasterCard, American Express, and Discover)
  • Pay with Square
  • Electronic Invoices
  • Credit and signature debit cards: Visa, MasterCard, American Express, and Discover)
  • PIN Debit (with EMV/PIN debit reader only)
  • Checks
  • PayPal
  • Electronic Invoices
The main payment channel of both Square and PayPal Here is credit and signature debit (non-PIN) cards. Each company also offers a proprietary first name payment service that displays nearby customers on a vendors payment screen allowing vendors to charge customers by name or image.

Square’s service is called Pay with Square, and PayPal Here identifies users through their PayPal account. Both services offer similar functionality, but PayPal’s user base is significantly larger. Looking past a somewhat dead heat with first name payment services, PayPal edges ahead with check processing and the option to accept PIN-based debit using a specific reader.

Funds Availability

Next Day, or ‘instant’ with a 1% fee. Immediate, through PayPal account
PayPal Here boasts the immediate availability of funds with no extra fees, and while this is faster than Square’s next day funding, Here doesn’t deposit funds directly into a user’s checking account. Instead, Here makes funds immediately available in a user’s PayPal account where they can access for purchases or withdraw via an ATM using a PayPal debit card.

PayPal Here users that want to transfer funds to their own bank account must initiate a transfer from within their PayPal account, and the transfer process typically takes three days.

Square doesn’t make its users jump through a proprietary hoop to get their money. Square deposits funds directly into a user’s checking account the next day. If you need your money faster, you can pay an additional 1% to get it instantly.

Fraud Protection & Security

Encrypted Card Reader, Data Transmission, Etc. Encrypted Card Reader, Data Transmission, Etc.
Although Square hit the market with an unencrypted card reader, the company has since cleaned up its act and both Square and PayPal Here are serious about security and fraud prevention. Both companies provide encrypted card readers and other security and fraud protection features. Both companies also offer EMV chip card capable readers, adding another layer of security.

Supported Devices and Equipment

iPhone/iPad, Android (Support for Older Devices) iPhone/iPad, Android, Windows (magstripe reader only)
Although PayPal Here hit the market with support for only iPhone/iPad, the company now supports Android devices as well. Both companies now support iPhone, iPad and Android, but the edge goes to Square for supporting older operating systems.

Square’s application will run on the iPhone 3G, but PayPal Here’s application is compatible only with 3GS phones and above. Check out PayPal Here’s supported devices for more information.

Both Square and PayPal offer chip-capable mobile card readers. The Square reader is priced at $29 as of 2018 and looks much like the previous reader. The EMV-capable PayPal card reader is a larger device with a built-in PIN pad and contactless technology. The PayPal card reader is priced at $79 as of 2018. Both companies have options for contactless payments, as well.

Market Availability

United States and Canada United States, Hong Kong, Australia
Square now provides service to Canada.

Price, Features & What’s Best in 2021

Square and PayPal are popular tools for accepting payments and work well for most small businesses. Both can be used as merchant services in addition to point-of-sale (POS) and ecommerce sales. The primary difference lies in use. Square, with its POS system and add-ons, is best for in-person sales and growing a business. Meanwhile, PayPal’s Zettle is a strong POS system but has a stronger focus on online and international payment processing. It’s also a great addition to other payment processing, unlike Square.

  • Square: Best for mobile and in-store payments
  • PayPal: Best for online payments and ecommerce

When to use an alternative: If you process over $20,000 monthly, you can get lower rates by using a traditional merchant account instead of Square or PayPal. Our recommendation for cheapest credit card processing is Payment Depot.

Square vs PayPal At-a-Glance

Takeaway: Square and PayPal are two of the best credit card processing companies. PayPal’s transaction fees are lower than Square’s and it has wider global reach. Meanwhile, Square has the stronger business tool set for small businesses with in-person sales. (See our article on what Square is and why small businesses love it.)

When to Choose Square

Square is better than PayPal for small businesses that sell products or services in person, whether in-store or via mobile. In particular, it works extremely well for:

  • Brick-and-mortar stores
  • Farmers market or booths
  • Restaurants, food trucks, quick-serve restaurants
  • Beauty salons, spas, gyms
  • Repair shops
  • Smaller B2B businesses

While its online component is not as extensive or popular as PayPal’s, it nonetheless offers a synchronized online store, buttons and links for social selling, invoices, and a virtual terminal for phone orders.

With your free Square account, you get access to all payment options plus a full suite of inventory, sales, customer, and employee management tools. You even get a free magstripe credit card reader upon signup. If you’re looking for a payment solution that lets you start with zero cost, supports all types of sales, and helps you manage your entire business, Square is the best solution for you. However, if as you grow, you need more advanced tools, Square offers over 100 integrations as well as paid additions to its plans—even payroll and banking.

While Square’s free tools are impressive, its payment processing fees are more expensive than PayPal’s (except when it comes to invoices.) Further, Square does not offer discounts to nonprofits like PayPal does. It’s also more limited in the countries it serves.

Visit Square

When to Choose PayPal

PayPal beats Square when it comes to online or international payment processing. It’s also the best choice as a supplemental payment provider. PayPal’s rates are cheaper, and it has deep discounts for nonprofits.

PayPal recently acquired a new POS system, Zettle, which has been widely used and well-regarded in Europe, to replace PayPal Here. Like Square, Zettle covers the most important retail functions and has impressive inventory management. However, it lacks some of the tools and integrations, which makes Square so suited for small businesses and the best bet for in-person sales. See our full review to learn more on PayPal’s POS solutions.

However, if your primary sales occur online, then PayPal is the better choice. Widely trusted by consumers and with programmable links and buttons that fit from Facebook to emails to the customer support chat, it’s a versatile system. Read more about the pros and cons of PayPal for small businesses or visit PayPal to create a free account.

Visit PayPal

PayPal’s and Square’s Reputations for Holding Funds

All credit card processors reserve the right to hold funds or cancel accounts at will. This might happen if you misrepresent your business, have excessive chargebacks, experience a sudden surge in frequency or amount of payment processing, and more.

Both Square and PayPal have a high number of complaints concerning held funds. However, PayPal has the worst reputation of the two, not only for the number of complaints but also for how unhelpful customer support was in resolving the situation. Even so, both providers rate high in customer satisfaction.

Best for Affordability: PayPal

PayPal’s rates are generally better than Square’s, even with the changes implemented in August 2021 (which are reflected in this article). Not only is the percentage part of the fees lower, but so is the flat added amount. This makes a big difference with smaller-ticket items. Square may be cheaper on invoices. This is a comparison of US prices. If you do business elsewhere, PayPal has different flat added amounts for different nations. In addition, PayPal offers significant discounts for nonprofits, making it a better choice for many 501(c)3s.

While both offer free POS versions, PayPal requires you to have a paid account for using its virtual terminal, hosted checkout pages, and chargeback protection. Square does not charge for these.

Square’s card readers are cheaper, but PayPal’s simplest model does more. When you start looking at POS systems, the prices are close enough to be negligible.

Best for Mobile: Square

Takeaway: Square’s mobile app is better than PayPal Zettle because it does more. Real-world users also rate Square more highly on iOS and Android.

Why Square Is Better than PayPal for Mobile Payment Processing

Square’s POS system and credit card processing make it the better choice for mobile sales. Optimized so you can easily ring up sales on a smartphone or tablet, the POS system does everything on mobile that it does on desktop, including reports. The offline mode lets you continue to take payments and have them sync when the internet is back. Square took the top spots on our list for best mobile POS and best mobile credit card processing.

Square’s chip and tap reader is simpler than Zettle’s, but costs $49 each.
(Source: Square)

When to Use PayPal for Mobile Payment Processing

Zettle is also on our list for best mobile POS, with PayPal itself among the best credit card processors for mobile, so if you prefer PayPal to Square, you are still getting a great system. This is especially important if you want to offer Pay by PayPal as Square can’t handle this. While you can put the same Zettle account on multiple systems, it does not distinguish locations like Square can.

Zettle’s card reader is more sophisticated than Square’s simple version. To get pin pad capability, you’d need to upgrade Square to its $299 card reader terminal.

Zettle’s card readers cost $29 for the first one, then $79 for subsequent ones.
(Source: PayPal)

Best for POS: Square

Takeaway: Square’s versatility and breadth of features for specialty stores put its POS system ahead of PayPal Zettle.

Why Square Is Better Than PayPal Zettle

Square offers POS systems for a variety of industries. For example, while the main version has some tools for ringing up restaurant items, like open checks, its free Square for Restaurants software includes clock-in, table management, and auto 86ing of items. Meanwhile, the salon version, Square Appointments, lets you set up an appointment calendar. Zettle does not have anywhere near this breadth of capability.

Square easily integrates with over 100 apps that are geared toward all levels of business. It even has some for the health industry, insurance, and fieldwork. Plus, it has some add-ons of its own. Meanwhile, we found nine integrations for Zettle.

In addition, Square comes with a free virtual terminal. This is great for taking payments over the phone or managing a mail-order service. PayPal only provides this with its Pro plan, which costs an additional $30 per month.

Square offers hardware and software for retail, restaurants, and spas.
(Source: Square)

When to Use PayPal Zettle

Like the mobile version, Zettle is a good alternative to Square, especially if you want to offer payment through PayPal. The system has a modern interface that users say is simple and easy to work with. The European version of Zettle had a restaurant version, but PayPal does not mention it on its US website.

Zettle does not have cross-border sales capability at this time, but works within a multitude of countries. Square, by contrast, only works in six nations.

What about PayPal Here? PayPal is driving new customers to Zettle. While PayPal’s US site said it would continue to support Here users, there are reports from users in Australia that Here’s service has been canceled.

PayPal is replacing PayPal Here with Zettle.
(Source: PayPal)

Best for Ecommerce and Online Payments: PayPal

Takeaway: This was close, but PayPal is still the better choice for online sales. It has the greater reach, is accepted by multichannel sales like eBay, and can integrate with a multitude of apps.

Want more customizability? Consider Stripe. Its API and SDK programming are excellent, making it the best for standalone online payments and specialty cases, like monetizing an app. Check out how Stripe compares to both Square and PayPal.

Why PayPal Is Better Than Square for Ecommerce

While Square ties tightly to its POS tools, PayPal can work as an independent payment gateway. This means you can have customers pay by PayPal just about anywhere, even third-party sales sites like eBay. Its ability to handle cross-border payments and make currency exchanges is also important when selling on the worldwide web.

One standout feature for PayPal is its “layaway” or partial payment systems. For example, you can set up high-ticket items with the PayPal Pay in 4 system. This lets customers pay for an item in four installments. PayPal handles this for you. Alternately, it can offer customers credit. Some charges may apply.

PayPal Checkout offers two partial-payment options for your customers.
(Source: PayPal)

In the News

Square has plans to acquire Afterpay, one of the original buy now, pay later (BNPL) platforms. After the acquisition, it’s likely Square will offer more competitive consumer-facing payment plan options that would rival PayPal’s Pay in 4 offering.

PayPal is not as thorough as Square when listing all its integrations, but if you search for a particular ecommerce software, chances are it will list a PayPal integration. However, you can always program your buttons to add to any site. (Square has button programming too.)

When to Use Square for Ecommerce

PayPal charges extra for hosted checkouts. If hosted checkouts is something you want, choose Square. Square also integrates with over 100 applications for online sales. Of special note are all the third-party delivery options. If you run a restaurant, this is a good way to expand your customer base. (Learn more about the best delivery services.) Also, while PayPal has programmable buttons, Square has a website builder to help you design a beautiful online store that integrates with your Square POS system.

Square has an easy-to-use website builder.
(Source: Square)

Best for Invoicing: Square

Takeaway: Both of these systems are good for invoicing, allowing you to create and send custom invoices, handle recurring payments, and send reminders. Square, however, is the cheaper choice.

Why Is Square Best for Invoices

Square is best when you want a completely free invoicing system that accepts ACH transfers. It lets you send multiple estimates, request a deposit, set partial payments by milestones, and more. When paying by ACH, it charges 1% of the invoice, a minimum of a dollar, making it cheaper than PayPal. Otherwise, it costs 2.9% + 10 cents per invoice.

Square lets you make invoices for multiple estimates, split payments, and more.
(Source: Square)

When to Use PayPal

Like Square, PayPal lets you generate attractive, branded invoices for full, partial, or recurring payments. It boasts a 76% paid rate within the first day of sending the invoice. Unlike Square, it accepts e-checks rather than ACH transfers. Regardless of how your customer pays, it charges 3.49% + 49 cents. This makes it more expensive than Square.

PayPal says 76% of its invoices are paid within a day.
(Source: PayPal)

Best for Payment Processing: Square

Takeaway: Both of these payment processors are secure and easy to use. Taking price out, Square simply beat PayPal on features, especially protection and versatility, as well as having fewer complaints about held funds. Despite PayPal’s popularity and international scope, Square is the better payment processor for small businesses doing domestic sales.

Why Square Is Best for Payment Processing

Square tops our list of best merchant services for 2021. While its fees are higher, it makes up for it in the versatility and tools it includes. Plus, it continues to expand its offerings, not only by introducing a kitchen display system and contactless QR coding, among other features, but also in business services. Most recently, it added banking, making it possible to have checking and savings accounts. You can get your money paid out faster to these accounts as well.

Square also stands out in its chargeback protection. In addition to working with you to manage disputes, it forgives the first $250 a month in chargeback fees. If you are an occasional seller, this is probably more than sufficient, and if not, it’s still a big help. Speaking of help, Square has a risk management program for an additional charge if you are concerned about chargebacks and transaction issues.

Square also offers banking and HR services.
(Source: Square)

When to Use PayPal

PayPal, hands down, is the best choice when selling internationally or when offering PayPal in addition to another payment processor. It also provides seller dispute help and protection. It has a chargeback protection program for physical items at an additional 0.4% per transaction.

An interesting difference between Square and PayPal is that PayPal does not share customer credit card information with you (although you do get data like contact and shipping information). This can be reassuring to your customers, who may not want their card numbers widely shared, but if you need this information, you can pay to access it.

PayPal also has some financial programs for its users. It offers a business credit card and a working capital solution. With working capital, you take an advance on anticipated credit card sales. Then you pay this “loan” back with a percentage of those future sales.

PayPal Working Capital is a viable alternative to credit or loans for some companies.
(Source: PayPal)

Best for Customer Support: Tied

Takeaway: Despite complaints of frozen funds and canceled accounts, customers are overall satisfied with both PayPal and Square customer support. Both also offer good user knowledge bases with an extensive, searchable database of tips, how-to articles, and more. There are a few illustrations and some videos in each as well.

A 2020 study by JD Powers concerning customer satisfaction for merchant services in the US placed PayPal in third place and Square in fourth. Only BB&T Merchant Services and US Bank Payment Solutions beat them out, and they won over most major banks, QuickBooks, and popular services like First Data.

Still not convinced either is right for your business? Check out our list of best merchant accounts for other great alternatives.

Bottom Line

Whether you use Square or PayPal, you are going to get a strong payment processor with a free, fully-featured POS system and online sales tools that include social selling. Both have complaints about held funds but strong customer satisfaction, nonetheless.

While PayPal’s rates are cheaper than Square’s, Square is overall the more robust solution. It has free specialty POS software for restaurants and salons, add-ons for all aspects of business from customer loyalty to payroll, and banking services. It’s the most complete solution at an excellent price. Sign up for a free Square account today.

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Zettle in: PayPal adapts its European card reader for U.S. market | PaymentsSource

PayPal has launched Zettle in the U.S. — but it’s not the same product PayPal bought just three years ago.

Zettle, formerly iZettle, launched in 2010 in Stockholm as a local rival to Square’s mobile point of sale platform. PayPal purchased Zettle in 2019 for $2.3 billion, despite having its own competing offering, called PayPal Here.

The American version of Zettle supports connections to PayPal’s invoicing service and a business Mastercard. Zettle enables integrations with accounting and e-commerce technology connections such as BigCommerce, Lightspeed, Quickbooks Online and SalesVu, with added partnerships planned over the next few months.

By integrating with other providers, PayPal is working to help businesses manage overall finances, with potential connections to PayPal’s merchant lending arm that’s tied to consumer payment flow. PayPal is trying to sell merchants on a combination that includes measuring consumer demand against supply, and streamlining B2B payments and treasury management.

These integrations speak to “a historic shift in consumer behavior towards digital channels, which poses an unprecedented challenge to small businesses that are struggling to adapt to meet these new customer demands,” said Jim Magats, senior vice president of omni payments for PayPal, which works with a network of about 30 million businesses, mostly small- to medium-sized enterprises.

An iZettle card reader. The PayPal subsidiary, now called Zettle, is integrating with several other merchant technology providers as part of its U.S. strategy.


Small merchants value the ability to sync online and offline systems, product catalogs, inventory management systems and other functions, Magats said. A merchant that works with BigCommerce for example, can press a button and BigCommerce’s inventory gets synced to the retailer’s store inventory.

“This is especially important for small businesses that often have to keep their in-store and online inventory siloed,” Magats said. “We see PayPal Zettle as an orchestrator for commerce tools. Our job is bringing all of these solutions together to make it easier for small businesses.”

For PayPal, Zettle will boost point of sale capabilities beyond PayPal Here, the company’s point of sale card reader. While Here is mostly focused on payment acceptance, Zettle offers a broader range of services that help businesses manage tasks beyond checkout.

PayPal Zettle is a much more robust, integrated, end-to-end product for small and medium-size businesses that offers a better customer experience and includes features like contactless payments, PayPal and Venmo QR Codes, popular digital wallets, an improved product library and reporting, integrations with partners and a better user experience design, Magats said. The payment company will continue to support both PayPal Zettle and PayPal Here, but it will eventually develop one product, according to PayPal.

Zettle helps PayPal address a longstanding goal of building a physical point of sale franchise, a strategy that has taken on more importance as the pandemic accelerates both online sales and in-store technology to accommodate omnichannel, or a combination of shopping, marketing, ordering and payments in different channels on different devices. By expanding Zettle, PayPal is attempting to bring omnichannel to its small-business customers. PayPal has also expanded its crypto support, enabling crypto trading to its Venmo P2P app, in a prelude to expanding crypto options for merchants.

“PayPal has been focused on helping online and mobile businesses,” Magats said. “With the launch of PayPal Zettle, PayPal will be able to better serve in-store and omnichannel businesses in an integrated and seamless way, and help in-store businesses seamlessly go digital.”

PayPal is not operating in a vacuum, and these strategies are playing out at other merchant technology companies. Stripe has used a series of investments to add new payment technology designed to reach merchants that were traditionally offline, but it added digital capabilities during the pandemic, such as online storefronts and payments.

Square recently launched its financial services business, which enables it to combine direct lending to merchants with Square’s mix of multichannel payments for small businesses, its crypto trading support and products for consumers, such as its Square Cash peer-to-peer app.

And Fiserv has used the Clover point of sale system that it acquired from Fiserv to build out an increasingly larger menu of merchant services, including a recent acquisition of Pineapple Payments to improve Clover’s distribution.

While most commerce still takes place at the physical point of sale, the pandemic’s impact on retail requires merchants to support both digital and physical points of sale, with integrations between online and instore shopping, said Richad Crone, a payments consultant.

Consumers can spend prepaid idle PayPal balances, use buy now/pay later and spread social payments through worth-of-mouth promotions via the combination of products that PayPal and Zettle support, Crone said.

“It’s the perfect timing for this launch as it’s propelled by the demand demented by the pandemic for integrating commerce with check in, checkout, payment and supply chain management for the merchants,” Crone said.

PayPal’s acquisition of Zettle was in part a counter to Square’s European expansion. PayPal often buys competitors in newer product categories.

PayPal can use its scale, including about 400 million users and its merchant network, to build an “Amazon-like” effect in merchant services, according to Ray Pucci, director of the merchant services practice at Mercator Advisory Group.

“PayPal has a robust network effect whenever they expand services and features to provide a suite of payment solutions and business tools for merchants,” Pucci said. “Introducing PayPal Zettle at point of sale is a logical move as many of their online merchant customers also have an in-store presence.”

Beyond Stripe and Square, other technology firms are adding physical point of sale to a digital payments franchise. Shopify offers POS terminals, for example, since many merchants on its marketplace also have physical stores, according to Pucci. And GoDaddy in late 2020 spent $320 million to acquire Poynt to serve the same strategy.

The POS field will become more competitive especially now as Zettle also goes up against leading market players Clover and Square, Pucci said. “Small and medium-sized merchants will benefit as more payment vendors will aggressively fight for their business.”

Is 90,000 Fintech Square a problem for PayPal? Investment Review

Square is an American fintech that accepts and processes electronic payments. He is also known for the fact that one of the founders, Jack Dorsey, previously stood at the origins of Twitter and is now the CEO of the social network. The company is young, founded in 2009. Entered IPO in 2015

The company is one of the competitors of PayPal and operates in a promising and rapidly growing area of ​​financial technology.Let’s take a closer look at Square’s business: we will find out how it earns, how promising the company is and whether to invest in it.

How Square makes money

The company has 2 ecosystems:

• Cash App (green) – financial products and services that help individuals manage their money, namely, store, send, receive, spend and invest. At its core, it is a digital wallet: in the ecosystem, you can also have a debit card, trade cryptocurrency and US ETFs.

• Seller (blue) is a commercial ecosystem that helps you start, manage and grow your business.

Both ecosystems are subdivided into 4 main segments:

• Transaction- based – income for transactions performed. Regular commissions for transactions, business accounts and card payments. In most cases, the commission is a certain percentage of the transaction amount.

• Subscription and services-based – subscription and service revenues.This includes fees for using Square Appointments, a solution for booking and scheduling appointments, sending reminders and accepting payments, gift cards, advertising and customer acquisition, website hosting services, payroll projects, and many other company services.

• Hardware –
income from the sale or rental of equipment: contactless readers, cash registers, receipt printers and barcode scanners.

• Bitcoin – on the platform you can make a purchase of bitcoin.

About 97% of Square’s revenue comes from the United States.

Since going public, the company has added many new products and services, significantly increasing revenues and gross margins. Square has become profitable since 2019

The company recently reported for the II quarter and I half of 2021. The results were strong: in six months the company made more money than in the whole of 2020, but the main inflow of revenue was due to bitcoin.

Cryptocurrency is a volatile asset and its highly speculative and volatile nature should be considered.


Competitor Comparison and Score

Compared to competitors, Square shares look expensive in terms of P / E, but in EV / Sales they look undervalued. The company has a low debt burden. At the same time, profitability is lame, which is associated with low profit, which the company began to generate not so long ago.

Net profitability is only 3.6%, which is 5.7 times lower than PayPal and 13 times lower than Visa. As the company develops, this inconsistency should be smoothed out.Wall Street expects EPS to grow by an average of 54.5% per year over the next 5 years.

As a result, some overestimation is offset by strong expectations for the future.

According to Barron’s and Finviz, we have the following consensus predictions:


• In a recent report, we talked about Square buying Australian fintech Afterpay, known for its buy-now-pay-later feature.Many competitors already have this feature, including PayPal. This is in demand, especially among young people and at times of low key rates. Entering a new market will help Square push the competition out.

• Continued development of ecosystems and implementation of new functions. Fintechs in general look promising and become more popular every year.

• Like its competitors, the company benefits from the declining share of cash payments, which are still widespread around the world.

See also: Do ​​you accept Visa card? Issuer Review

• Geographic expansion.The company is active in the United States, developing business in Canada, and with the purchase of Afterpay, the international client base may expand even more.

• The economy continues to recover from the pandemic – small and medium businesses are back on track, and entrepreneurs are potential customers of Square.

In mid-July, the company announced the launch of Square Banking, a banking service for businesses. Customers will have access to checking and savings accounts, as well as lending within the already existing division of Square Loans.


• The fintech market is saturated with competitors – this is Square’s biggest risk and requires continuous movement and growth.

• State regulation. This applies to both normal monetary transactions and control over fees, as well as bitcoin, which is not a stable and generally accepted asset.

• Technically, the stock has a Beta of 2.4. This means that the rise or fall of a stock can be significantly greater than that of the market as a whole.The general market correction for stocks may result in serious losses.

Technical picture

After an impressive growth on Monday, the shares moved to a local correction. Support at $ 260 held out, and now the quotes are trapped in a small sideways range of $ 260-280. On the daily and weekly charts, the RSI indicator does not indicate overbought, and there is still room for growth.

From the technical point of view, buyers have every chance to continue the pressure and start testing $ 280.Overcoming the level from the bottom up contributes not only to the renewal of the historical maximum, but also to further growth towards $ 290-295. This area is the stagnation zone where correction can begin.

The cancellation of the growth scenario will be reported by a descent under $ 260, then the benchmarks will drop to EMA 21 – about $ 250. Recall that if at least a local correction begins in the US market, Square shares may fall even more.

Should I buy

Square’s long-term outlook looks moderately positive.Compared to PayPal, Square does not yet have clear goals for the future, but its plans and actions look ambitious, and the company has enough drivers for growth.

At the same time, the same PayPal or Visa look more restrained and less risky, since they are well-established companies.

Do not forget about the bitcoin effect, income in this segment can be unstable, which means it can have a negative impact on financial results.

In the short term, Square shares may be subject to speculative effects, so you shouldn’t consider buying them right now.Better to wait for the correction and buy them cheaper. By the end of the year, given a stable market, shares may well reach $ 280-285.

Since the beginning of the year, Square quotes have risen by 22.4%, and over the past 12 months – by 94.7%.

BCS World of investments

90,000 The State of Non-Cash Payments Among US Small Businesses

We tested consumers’ attitudes towards cashless payments during the pandemic and asked if small businesses are ready for constant change.

Cashless payments have been gaining traction in the United States for many years. A GetApp poll published last December
showed that 24% of small business executives surveyed were using Venmo
to process customer payments. In the same quarter, Mastercard reported that 30% of all global card purchases were contactless.

In early 2020, the COVID-19 pandemic turned non-cash payments from optional to necessary. The article
New York Times
flying during the pandemic mentions a new and unusual risk for passengers: the inability to buy food with cash.The article encourages readers to use contactless payment methods or download tools such as Apple Pay.
as companies around the world have banned cash, citing the risk of transmission of the virus.

Current public health guidelines say this risk is small. However, the decline in in-store transactions, coupled with home orders, appears to have triggered a tipping point for cashless payments.

What is cashless payment?

Cashless payments use digital instruments to sell and pay for services instead of cash.If you’ve ever paid rent by bank transfer, bought groceries with Apple Pay, or saved your ID in a digital wallet, you’ve used cashless payments.

Contactless payments are one of the types of non-cash payments. These are credit cards that use near field communication (NFC) or radio frequency identification (RFID) technology to allow readers to wave their cards next to them to make payments. This distinction is important because many use the terms “cashless” and “contactless” interchangeably.

Cashless Status Amid COVID-19

In light of the COVID-19 outbreak, Capterra wondered how this pandemic has changed North America’s attitude towards cashless payments. Has COVID-19 Increased Consumer Demand for Cashless Payments? If so, are SMEs ready to meet this demand?

To find the answers, we conducted two surveys at the end of May 2020. The first survey of consumers in North America asked about their preferences for payment options and how those options affect their likelihood of making purchases from businesses.The second asked business leaders in North America with 500 or fewer employees if they offered cashless payments and why (or not).

Let’s take a look at the survey results and compare the sentiments of both groups. If consumers have a widespread preference for cashless payments – especially in a public health crisis – small and medium-sized business leaders, as you should know. Even if you are already using cashless payments, this pandemic offers new opportunities to stand out.

Key Findings: 83% of North American SMEs accepted cashless payments before the pandemic. 72% of consumers paid for business services using bank transfers during the pandemic. 72% of consumers expect businesses to offer cashless payments as an option. PayPal, Google Pay and Apple Pay are the most popular cashless payment methods. Recommendation: North American SMEs are well positioned to meet consumer demand for cashless payments.To survive and thrive after the pandemic, small and medium-sized enterprises must invest in technology that supports contactless payments, a special type of non-cash payment that meets the growing consumer demand for safety and hygiene.
Consumer attitudes towards cashless payments

Consumer respondents were familiar with non-cash payments before COVID-19 infection: almost half (46%) said they use non-cash methods to regularly purchase services, and every third (32%) said that they did it from time to time.

During home orders that lasted two to three months, North American consumers had fewer options to use cash. Governments have ordered nonessential businesses to close conventional stores. If these businesses wanted to keep going, they needed to sell using e-commerce platforms,
which accept cashless payments.

For major businesses that remained open, some brands, such as Whole Foods Market, chose to reduce their use of cash
…Research Platforms
showed that this set of events increased consumer openness to cashless payments during the pandemic.

used two separate questions to ask consumers how often they used cashless payments before and during COVID-19. The most and least enthusiastic respondents did not change their spending preferences before or during the crisis, suggesting that the pandemic did not have a fundamental impact on those who were serious about cashless payments anyway.

However, we noticed some changes in the middle. The number of respondents who used non-cash payments from time to time decreased by six percentage points during the pandemic. Conversely, the number of respondents who said they were willing to use non-cash payments increased by six percentage points.

Our data on consumer behavior during COVID-19 shows that 93% of respondents are at least willing to use cashless payments if they are not already using them.From paying fitness trainers for virtual classes through Venmo
Prior to ordering takeaway food through the UberEats app, the current moment made a fundamental change in the way consumers pay for services.

Can small and medium-sized businesses in North America meet consumer demand?

The vast majority of respondents in the B2B Platforms survey
accepted non-cash payments before COVID. In fact, SME leaders were even more likely than consumers to make heavy use of cashless payments ahead of the pandemic.

It is good news that the business was ready to meet the demand. According to our B2C survey, consumers adhere to high standards when it comes to offering cashless payments: 72% told us they expect businesses to offer cashless as an option.

This number coincides with 72% of consumers who paid for services by bank transfer regularly (46%) or from time to time (26%). So, if you’re a small business owner, you can expect about three out of four customers to use cashless payments.

Fortunately, there are many cashless payment options available. And, not limited to one option, business leaders can use several.

PayPal is the cashless payment method preferred by most small and medium-sized business leaders: two out of three use it. Google Pay came in second, with six out of 10 respondents using it. Since then, the use of certain tools has dropped dramatically, with 41% of respondents using Apple Pay.

Small and medium enterprises’ reliance on PayPal is paying off. The first day of May 2020 became
the most active day of transactions on the site, eclipsing Black Friday and Cyber ​​Monday last year. Marcy Campbell, vice president and general manager of PayPal for North America and Australia, said the pandemic will turn several physical stores into “showrooms” that consumers visit before shopping online. She added that the most successful companies will demonstrate to consumers how they put their health first, mainly through technology that minimizes personal contact.

Equally good that six out of 10 small and medium-sized businesses use Google Pay. According to reports, Google plans to add seller buttons that will allow users to sell products and services within the app.
… This product update will allow online and brick-and-mortar merchants to accept customer payments without leaving Google Pay.

Google hasn’t shared its timeline yet, but these suggested features are already available to some overseas users.The India version of Google Pay allows users to order food, car rides, and more in the app. The fact that Google has delivered such features to global markets prior to the US speaks volumes to North America’s historic cash orientation.

Preparing Your Business for a Post-Pandemic World

Platforms Research
confirmed that North American SMEs are well positioned to meet consumer demand for cashless payments.Small and medium-sized business leaders are more likely than consumers to have used non-cash payments before the pandemic, and most of the leaders in our survey accept payments through multiple non-cash options.

These findings are not as obvious as one might think; The United States continues to lag behind its global competitors in the spread of non-cash payments.

As of last fall, Sweden, China and the United Kingdom were the leaders in the world
on the use of cashless payments.Meanwhile, several US states have banned non-cash trading, and more than 70% of Americans have used cash for at least some of their purchases. In contrast, only two percent of all Swedish transactions were conducted using cash.

It is impossible to know the final outcome of the COVID-19 pandemic, but we know what consumers think about safety. About two-thirds (63%) of Gartner Consumer Community respondents agree that they would like to continue with some of the changes that
they contributed to the pandemic, even after the crisis ended (the full study is available to Gartner customers).

Most Popular Positive Shift? Increased attention to personal hygiene and cleanliness in public places. So it comes as no surprise that in an April 2020 survey of 17,000 consumers in 19 countries, 82% said contactless payments were a “cleaner payment method.”

Help Here
your own SMB comes in: investments in hardware and software needed to support contactless payments
will make your business stand out from the competition. 31 million Americans used a Visa or contactless card in March 2020, and the use of contactless payments in the United States has grown by 150% since March 2019.Steps You Should Take

To ensure that your business can meet the growing demand for contactless payments, start by considering your current cashless payment options. Then think about what additional options you can offer consumers, up to contactless payments. Every next step will keep your business ready for today’s demand and tomorrow’s future.

1. Make sure your cashless gateways are PCI compliant.

When non-cash payments began to develop in 2006, a group of industry leaders united to form the Payment Card Industry Security Standards Council (PCI SSC)
… PCI offers best practice guidelines to help keep customer and business data safe as it flows through the cashless ecosystem.

If your business accepts cards, you are expected to already comply with PCI standards. This has three key responsibilities

Ensure secure storage and transmission of customer credit card information Ensure continued security through encryption, security testing, etc.Conducting annual audits of your security measures

Many software
point-of-sale systems
offer features to help users monitor PCI compliance. As one example, Stripe
Allows users to enter card details into fields that come from their PCI DSS verified servers. If your company has a POS system and you are not sure what features it offers to track PCI compliance, ask your account representative to show you.

2. Explore payment options that do not require merchant accounts.

Some of the most popular online payment systems do not require merchant accounts. A bank account allowing businesses to accept payments with debit or credit cards .. This means you can use tools like Stripe, Square
and PayPal,
without overpaying for the business plans of their products.

First, compare each payment option to your business needs. If you’re running a virtual business that needs an easy-to-use system to accept online payments, PayPal or Square are good options.

If you’re running a regular store, Square lets you attach a magnetic stripe, chip, or Bluetooth card reader to your laptop, smartphone, or tablet. This makes it ideal for grocery carts, retail stores and other personal contact with consumers.

Keep in mind that while you do not need seller accounts to start using these tools, you will have access to more features if you want to upgrade. For example, PayPal’s business plan allows up to 200 employees limited access to your account and faster surveillance.
from the support service.Ultimately, you should choose a payment option that will serve your business in both the short and long term.

3. Budget for contactless payment technology.

If your bases are PCI and online payment compliant, consider adding contactless payments as an investment in the future of your business.

In the TSYS survey, 80% of respondents prefer to pay with debit or credit cards (54% and 26%, respectively
).Now, consider that as of March 2020, 71% of personal transactions in the US took place at locations that service contactless payments, up from 62% a year earlier.

The United States is already far behind global markets in the adoption of contactless cards. They will try to catch up in the years ahead

To accept contactless payments in your small business, you need the right equipment. Proximity cards and mobile wallets use Near Field Communication (NFC), so you’ll need to buy an NFC-enabled reader.

However, merchant accounts for some POS systems offer plug-in readers
for existing card readers. If you are already purchasing POS software, you can make this feature a major part of your search.

Ready to upgrade to a cashless (or contactless) tariff?

Find software


conducted two separate surveys via Amazon Mechanical Turk between May 29 and May 31, 2020. In the first survey, 393 consumers were asked about their payment preferences before and during the COVID-19 pandemic.The second surveyed 378 owners and senior executives of companies with 500 or fewer employees about their payment offerings. We also required respondents to our B2B survey to participate in the management / approval of digital commerce options for their organizations. All respondents were required to reside in North America to participate in both surveys.

Looking for mobile software? Check out our list of the best mobile software
Platforms solutions

Source: https://platforms.su/articles/2394

This material is a private record of a member of the Club.CNews community.
CNews editors are not responsible for its content.

LF 125KHz RFID Card Reader -15 Years Acceply Paypal

FOB Price:

/ PCS.

MOQ: 1 Pcs.
Terms of Payment: T / T, Western Union, PayPal
Capacity: 50, 0000
Packing: Standard Export Package

Product Description

Basic Information

  • Model Number:
  • Interface:

Additional Information.

  • Trademark:
  • Packing:
    Standard Export Package
  • Origin:
    Guangdong, China
  • Production Capacity:
    50, 0000

Product Description

Highlights of the product:
1.LF 125kHz RFID Card Reader for Tolerance Control USB Interface 2.
3. Desktop Mounted
4. Reading Distance: 3-5cm
5. Protocoal: ISO11784 / ISO11785

Temp from 0 50 centigrade

/ 11785

90 243 Supported cards
Main Features
Model D8-U-ID
Dimensions 123mm × 95mm × 27mm


Storage temp -40 to +85 centigrade
Humidity 30% RH – 90% RH
Interface USB USB
Current consumption <100mA
Cable USB cable
Indicator LED
Parameters RFID

EM card and compatible ID card
ReadRange <5 cm (Depends on card)

Product Type


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