Home / Credit News / New PayPal platforms could be helpful to small business and consumers

As consumers continue to shift habits from using cash or checks to debit and credit cards to complete many of their purchases, small businesses will continue to seek new ways to accept these transactions. Now, an offering from PayPal might help them.

PayPal, the world's largest online payment processor, continues to branch out its efforts to begin processing transactions in the real world as well, according to a report from the company. In addition to having recently released its mobile card reader Here, which plugs into and works with any smartphone equipped with the associated app, the company recently also unveiled its new PayPal Payments platform, which gives businesses large and small greater control over their ability to process transactions both online and in the real world.

Payments will come in three possible tiers, Standard, Advanced and Pro, the report said. Prices for these tiers are free, $5 per month and $30 per month, respectively, and each will include a large number of services. What differentiates the two fee-based tiers from the free one is the ability to have customers complete an online payment without ever leaving the merchant's website. Pro is the only tier that will allow companies to both design and host their own checkout page, as well as accept credit card payments not only in person or through a mobile device, but also by phone, fax and standard mail.

"PayPal Payments is one business product with three tiers of capability to give U.S. small businesses the flexibility to easily choose a payment option that works for them," said Ed Eger, senior vice president and general manager of PayPal Americas. "Every tier offers an integrated suite of products that makes it easy to take payments from mobile devices and in-person, as well as online."

Companies have been trying to develop ways to make it easier for small businesses to process credit card transactions, something millions could not do when only major payment processors like Visa and MasterCard existed. Meanwhile, some experts have expressed concern that this type of mobile payment processing might become outmoded by mobile wallet technology within the next few years anyway. However, for the time being, this type of card reader might be a boon for small businesses who could not afford to accept credit and debit transactions in the past.