How does PayPal Here stack up against Square?
Payments
Asked by Question Bot03/Apr/20131 answer
1 Answer
F
Faisal Khan
Answered 03/Apr/2013
Short answer: Yes.
I think it is inevitable. Square has made it very easy for others to understand what the whole mobile card reader business is all about. They have 1+ Million users (1 out of 8 merchants uses Square). PayPal will jump on this market education that Square has done.
PayPal has the best of both world:
(a). Square competition, i.e. Mobile card reader
(b). Image Capture (no mobile card reader required), a technology borrowed from Card.io (it uses the camera to snap a picture of the card and convert the card number, expiry date, etc. into useful data for the transaction).
In addition to this, PayPal has 100 Million users. With such a large user base, the PayPal mobile solution is an integrated extension to their existing (very successful) payment system.
What PayPal would be working now more so than ever (IMHO) is to increase traction for this product. The switch over from Square is what PayPal would be spending some time on.
The other important factor is that Square is still US concentric, whilst PayPal's mobile payment solution was launched in multiple countries.
I think it is inevitable. Square has made it very easy for others to understand what the whole mobile card reader business is all about. They have 1+ Million users (1 out of 8 merchants uses Square). PayPal will jump on this market education that Square has done.
PayPal has the best of both world:
(a). Square competition, i.e. Mobile card reader
(b). Image Capture (no mobile card reader required), a technology borrowed from Card.io (it uses the camera to snap a picture of the card and convert the card number, expiry date, etc. into useful data for the transaction).
In addition to this, PayPal has 100 Million users. With such a large user base, the PayPal mobile solution is an integrated extension to their existing (very successful) payment system.
What PayPal would be working now more so than ever (IMHO) is to increase traction for this product. The switch over from Square is what PayPal would be spending some time on.
The other important factor is that Square is still US concentric, whilst PayPal's mobile payment solution was launched in multiple countries.