For those of you that don't know, Paypal has come out with a credit card reader for your smart phone. You will be able to swipe credit card, scan checks and accept paypal payments right from your phone. The credit card swiper for the phone will be free. It will also let you invoice customers and track cash payments through the app. Android and I-Phone versions are available. I was on the advanced sign up list, so I will be getting mine soon in the mail and will report back. The app is already available to download. Here is the link on Paypal's site.
Flat 2.7% transaction fee on Paypal and Swiped Credit Card transactions. It is a little higher on manually entered credit card numbers. I don't believe there is a charge for scanning in checks. I also don't know if checks clear instantly or if there is a waiting period.
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