Tell us about your experiences with Marketplace. Enter To Win

Dongle fight! PayPal getting ready to square off against Square?

John Moe Mar 13, 2012

Clearly, Square grabbed all sorts of first-mover advantage in the mobile payment battle. The little Square attachment for iPhone has been out for some time, allowing any merchant from big store to street vendor to take credit cards. The recent iPad edition, however, is the bigger game changer since it potentially eliminates the need to buy a traditional (very expensive) cash register.
PayPal isn’t ready to cede this market entirely, however, and its going to launch its own mobile payment system at an event on Thursday, reports GigaOm. Besides being a known name and getting a toehold in a new market space, PayPal has to be aware that Square makes a 2.5% commission on each sale made through the system, which is pretty sweet. 

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.