PayPal Launches PayPal Here to Ignite Commerce Revolution for Small Businesses and Entrepreneurs across the Asia Pacific Region

PayPal Enables Millions of Small Businesses Across Asia Pacific

To Accept Credit and Debit Cards and PayPal Payments Through a Smartphone

HONG KONG , March 16, 2012 /PRNewswire-Asia/ -- PayPal today announced PayPal Here(TM), a global mobile solution that allows small businesses to accept multiple forms of payments using a free mobile app and a fully-encrypted thumb-sized card reader. PayPal Here enables anyone with an iPhone or Android smartphone to accept credit and debit cards and PayPal payments on-the-go, while being paid instantly into their PayPal account.

(Photo: http://www.prnasia.com/sa/2012/03/16/20120316111556280167.html )

For more than 13 years, PayPal has enabled millions of small businesses and entrepreneurs in 30 markets in Asia Pacific to grow by helping them to be paid more quickly and more securely across multiple sales channels -- online, mobile and now offline with PayPal Here. Small businesses form the economic backbone of the Asia Pacific market with over 150 million small-and-medium sized businesses (Note 1) (SMBs) accounting for over 90% of all businesses (Note 2) and nearly 70% of employment (Note 3) across the region.

"PayPal is transforming the US$1.3 trillion SMB retail market (Note 4) across the Asia Pacific region by enabling millions of small businesses to accept card and PayPal payments on a smartphone anytime, anywhere to grow their sales. We're delighted to be the first in Asia Pacific to offer this innovative mobile solution with the widest choice of payment options to support the growth of small businesses in the region," said Rupert Keeley, senior vice president, PayPal Asia Pacific.

No matter how consumers choose to pay, PayPal Here makes it easy, so small businesses do not have to worry about missing a sales opportunity ever again. Merchants no longer have to go through an often very challenging and time-consuming process to get a merchant account to collect card payments. Instead, they can open a PayPal account, download the PayPal Here merchant app on a smartphone and order the PayPal Here card reader to start accepting payments faster than ever before.

Merchants can accept payments by swiping cards in the card reader, scanning cards using their phone cameras, manually entering card information into the app, and of course, receive PayPal payments. They can also send an invoice and set payment terms directly from the app. The card reader encrypts card information as it swipes and is backed by PayPal's world class security and fraud prevention capabilities, as well as 24x7 live customer support.

Mobile Technology Ushers in the New Era of the Entrepreneur

The Asia Pacific market has some of the highest smartphone adoption rates in the world, with 137 million smartphones shipped across the region in 2011 (Note 5). With a smartphone and PayPal Here, it has never been easier to start up a business today and easily accept multiple forms of payments.

Keeley added, "PayPal is going to change the way millions of merchants and consumers connect with each other in the Asia Pacific region. With PayPal Here, smartphones will become the new retail points of presence for small and micro-businesses across the region. We're excited to empower any Asian to be an entrepreneur -- the possibilities are limitless with a smartphone and PayPal Here."

PayPal also released the latest version of its PayPal Mobile app for iPhone today, a consumer app that complements PayPal Here. PayPal users will be able to use the "Local" feature on the PayPal app to find nearby businesses that accept PayPal Here. Once that customer is ready to pay, she can notify the merchant by a quick tap on her mobile phone. Merchants can use PayPal Here to accept the payment by simply referencing the shopper's name and picture -- no wallet needed.

Availability and Pricing

The PayPal Here card reader and merchant app for iPhone are both available today exclusively for select merchants in Australia and Hong Kong with more Asian markets in the near future. It will be generally available in multiple Asian markets soon. The Android version of the PayPal Here merchant app will be available at that time. For more info or sign up to receive the free mobile app and pre-order the free card reader, Australian businesses can go to www.paypal.com.au/here and Hong Kong businesses can go to www.paypal.com.hk/here.

There are no account setup or monthly fees for PayPal Here and the card reader is free for the first six months. Merchant rates are competitively priced for card swipes and PayPal payments at 2.4% + AUD0.30 (Note 6) in Australia and 3.9% + HKD2.35 (Note 7) in Hong Kong.

The updated PayPal app for iPhone is available in the Apple Store globally starting today.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows people to send payments without sharing financial information, with the flexibility to pay using their account balances, bank accounts (where available), credit and debit cards in various markets. PayPal is an eBay (Nasdaq:EBAY) company and enables global e-commerce with over 106 million active accounts in 190 markets and 25 currencies around the world. PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore. More information about the company can be found at https://www.paypal.com.

PayPal Here: Summary of Benefits and Features for Small Businesses in Asia Pacific

-- The most payment types: swipe credit and debit cards,

manually key in or scan card information, invoice

directly from the app, and accept PayPal.

-- Simpler, faster card acceptance: download the PayPal

Here merchant app,order a card reader and start

accepting credit and debit cards and PayPal payments

faster than ever before

-- Be paid instantly: merchants receive the funds directly

into their PayPal account whether the sale is completed

by card swipe, key in or scan, and of course, via PayPal

payments

-- Security: PayPal Here uses end-to-end encryption to

help protect card information as it swipes, backed by

PayPal's world-class security, risk and fraud management

systems

-- 24x7 customer support: live phone and online customer

support -- more than 6,000 customer service agents

across 17 centers around the world

-- One simple flat fee: the mobile app is free for both

merchants and consumers, the card reader is free until

October 31, 2012, no account setup or monthly fees,

competitively priced at 2.4% + AUD0.30 in Australia and

3.9% + HKD2.35 in Hong Kong per card swipes and PayPal

payments.

-- Backed by PayPal: The world's most trusted way to pay

and get paid with more than 106 million active accounts

worldwide in 190 markets and supports payments in 25

currencies, with the ability to bring PayPal Here across

the Asia Pacific region.

Notes:

1. Source: Government statistics from Japan, South Korea,

China, Hong Kong,Singapore, Malaysia, Thailand,

Philippines, Indonesia, Vietnam, India, Australia,

New Zealand

2. Source: Asia Pacific Economic Cooperation Forum

3. Source: Asia Pacific Economic Cooperation Forum

4. Source: Economic Intelligence Unit, Forrester: Asia

Pacific, US and EU Retail Forecast 2010

5. Source: IDC

6. Fees are subject to change. Other fees may apply.

7. Fees are subject to change. Other fees may apply.

SOURCE　PayPal