Answer to Question #93462 in Computer Networks for Mokete

Question

What advantages do the Square and PayPal mobile card-swiping solutions have in the mobile payment market? What are their weaknesses?

Answer 1

Square Market provides "free online store" facility. In addition, Square Wallet is integrated by default and multi-user permissions can be customized. At last but not least, the rates become cheaper once the no. of transactions increases and barcode scanner connectivity is also allowed. However, it lacks on support for bulk transactions and users' trust in regards to security.

Flexibility and speed (e.g. each access to funds) remains the major advantages of the PayPal system. However, it is difficult to identify the appropriate legal framework for it because it resides somewhere at the boundary of the banking system. Thus, it is difficult to trace the applicable measures/actions under all regular scenarios.