In our view, what Apple did for the tablet and the smartphone, PayPal is doing for business payments. Even though this very comprehensive product is being touted as a small business solution we strongly suspect that the system will be enhanced and available to larger business as well. PayPal has shifted its focus to mobile as a way to bridge the gap between online and offline, notably getting retailer Home Depot to roll out its in-store payment system nationwide.
The following two-part video of the recent PayPal Here launch goes into detail of what the new service offers. Here David Marcus, PayPal's Vice President of Mobile, introduces the new payments solution that will help small businesses get paid - whether they do business online, offline or on mobile.
David Marcus has since been named as president, replacing Scott Thompson, who quit in January. David Marcus, who joined the eBay unit last year when it acquired his direct his direct carrier billing operator Zong.