What form of mobile payments to you prefer to use for your online shopping?
PayPal on Thursday introduced PayPal Here, a mobile payment solution that attaches to your smartphone. If the idea sounds familiar, that’s because Square, a similar technology, has been around for about two years.
But those two aren’t the only options for small businesses looking to process credit card payments on the go. In fact, there are now four such payment solutions if you include VeriFone’s Payware Mobile and Intuit’s GoPayment.
Which one is best for you? We took a look at the various features for each offering to help you make the decision
Square: Charges a fee of 2.75% on every transaction (except for online-only transactions; Square takes a 3.5% cut plus 15 cents.)
PayPal Here: Charges a 2.7% fee, though each merchant that signs up gets a PayPal debit card, which earns the merchant back 1% instantly, taking the cut down to 1.7%.
VeriFone Payware: $49 yearly activation fee though "additional merchant fees may apply."
Intuit GoPayment: Takes a 2.7% cut of every transaction unless you opt for a high-volume plan that offers a 1.7% rate with a $12.95 monthly fee. Intuit also offers a debit card, like PayPal does, but does not currently give merchants 1% back instantly.