As the battle for supremacy in the mobile payment market continues to ramp up, the two obvious front-runners are Square Register and PayPal Here. Though both platforms allow you to accept credit card payments from your phone or tablet with a free credit card reader, which is about where their similarities end. Each of the two industry leaders have their own benefits that come along with their apps and hardware, so it is up to the users to look at the comparisons and decide which product is right for their business needs.
Square Register is the most downloaded electronic cash register app for both Android and iPad users. They were the first company to offer a free credit card reader that plugs into a headphone jack, and they were also first to launch an advertising campaign to generate awareness and branding in the mobile payment market. Furthermore, the Square Register inventory system is probably the most robust of any of these types of apps, but there is always room for improvement.
Getting setup to use Square is a very easy process. You simply sign up on their website and fill out your profile information. After you have your account setup, they will mail out a free credit card reader to your business address so you can start to swipe cards. Then you just sync up your bank account and your received payments are automatically deposited in 1-2 business days after you’ve swiped the credit card.
PayPal is the top competitor of Square; mainly because of their name recognition. PayPal is by far the most popular online payment company in the world, so that good name makes it easy for customers to come onboard and trust their financial information to them. Also, because so many people already have a PayPal account, it is easier to get people to try your product if they already are signed up with you.
Much like Square Register, PayPal Here offers their users a free app for their phone or tablet to act as a cash register and credit card processor. They also offer a free credit card reader that works in conjunction with their app so you can take credit card payments on the fly. Though PayPal Here isn’t quite as inexpensive “per swipe” as Square Register, the quality of the PayPal name alone is enough to draw many would-be users over to a familiar platform and stick with a company that they already do business with.