PayPal Is So Scared Of Square It's Taking Its Lead

PayPal is planning to introduce a point of sale product, eBay CEO John Donahoe said in an earnings call, Forbes writes

PayPal is betting heavily on mobile payments. And there’s another mobile payments company that introduced a point of sale system recently: Jack Dorsey’s Square. 

Apple-like in its elegance, Square’s system is based on an iPad and allows people to pay by just giving the cashier their name. Right now it’s only in a few stores, but it’s quite impressive.

Point of sale systems are very important if you want to get a mobile payments system off the ground, because it’s how you get merchants to use it. Once merchants use it, consumers will use it as well.

When we last interviewed eBay CEO John Donahoe a couple days after Square’s point of sale system launched, he hadn’t heard of it. It’s fair to say now he has.

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