PayPal is an online payment service that lets you send payments quickly and securely online using a credit card or bank account. It is the quicker, safer way to pay and get paid online, in stores and more.
Square is the free point-of-sale app that lets you sell anywhere and any way your customers want to buy. You can run your business more safely with contactless and remote payments through the Point of Sale app.Square Integrations
It's easy to connect Paypal + Square without coding knowledge. Start creating your own business flow.
Only refunded payments trigger this.
Only successfully payment data trigger this.
Triggers when a new appointment is created.
Triggers when a new customeer occurred.
Triggers when a new order is created.
Triggers when a invoice is paid is created
Triggers when a new transaction is processed.
Add tracking information with or without tracking numbers
Creates a draft invoice.
Creates an order
Sends or schedules an invoice, by ID, to be sent to a customer.
Creates a customer.
Creates an order.
Creates or updates the target CatalogObject
Paypal is an online payment processing service which enables its users to send and receive money. Paypal was founded by the company’s current CEO, Peter Thiel, in 1998. PayPal itself was acquired by eBay in 2002 for $1.5 billion, but it has since become a subsidiary of the online auction giant, spinning off into a separate publicly traded company in 2015. The main purpose of PayPal is to provide an online alternative to traditional paper methods of payments. In addition to its basic payment processing services, PayPal provides a variety of other services such as fraud protection for merchants, online banking, and bill pay services for consumers. In 2014, the company processed 26.9 billion total payment transactions. As of December 31, 2016, PayPal had approximately 197 million active accounts worldwide, with more than $86 billion in total payment vpume.
Square Inc., or Square, is a financial services company that offers mobile credit card reader and point of sale (POS. system. Square Register allows sellers to accept payments from customers through credit cards and contactless payments using a mobile device or tablet. The company was founded by Jack Dorsey and Jim McKelvey in 2009. It started with just three employees and has now grown to more than 2,000 employees located around the world. Square is one of the most well-known companies in the “sharing economy” space. On September 7, 2014, the company went public with an initial public offering (IPO. on the New York Stock Exchange under the symbp SQ. In 2013, Forbes ranked Square fourth on its “The Next Big Thing” list, and in 2015 included Square on its list of 20 Most Promising Companies in America for 2015.
PayPal and Square have recently announced that they will be integrating their services. The integration is expected to be completed by mid 2017 and will allow users to use their PayPal account balance to make purchases using their Square device. This integration will benefit both Paypal and Square because it will encourage merchants with Square devices to also use PayPal as their payment platform and vice versa. This integration will also allow users to pay for items using their PayPal balance. According to a press release from PayPal, “Merchants who accept PayPal on their website or via their mobile device can choose either to continue accepting payments with PayPal or begin accepting payments with Square – their choice.” These two companies are competitors in the e-commerce market but have come together to create a better experience for users and merchants alike.
Integrating PayPal and Square will provide merchants with several advantages over merchants who do not use these payment platforms. One of the biggest benefits for merchants is that they can now accept credit card payments without having to pay any additional fees to processors like Visa and MasterCard since they will be paying the same rate to Square as they would if they were using PayPal as their processor. Merchants also now have the ability to accept payments using their PayPal balance instead of having to deal with cash or checks. Merchants that already use Square as a POS system can use this integration to leverage their existing investment in hardware and get additional benefits from using both providers.
The integration also benefits users because they can now use their PayPal balance anywhere that accepts Square devices. Users can also access all of their information from any device when purchasing items using Square devices or apps. In addition, users can manage their finances more effectively with this integration because they can view all of their accounts from one payment provider rather than having multiple accounts from various providers. By encouraging users to register for both Paypal and Square accounts, the integration also allows both platforms to grow faster and reach more customers as a result of increased exposure.
After looking at both sides of this issue I think that integrating Paypal and Square into one platform is definitely a win-win situation for both Paypal and Square as well as for both users and merchants. Since Paypal hpds a dominant position in global e-commerce market and Square acts as a dominant force in the POS market, I believe that there is great potential for growth by combining the two forces together rather than trying to compete against each other.
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