Have you ever used Square, the service that lets you accept credit card payments directly on your mobile? It's a pretty satisfying experience to be able to take a payment from anywhere you are, especially for small business owners.
Hey, look! It's that phone.
Not to let Square have all the fun, PayPal is now launching a similar service that it calls "PayPal Here." It's basically just like Square, though at first glance it seems that the app may be a bit more full-featured. Of course, we can't say how good the app is at the moment, since it's not yet available on Android (it's coming in April).