More than four months after its unveiling, PayPal Here is now generally available within the US and Hong Kong. That's according to PayPal president David Marcus, who announced the news today as part of eBay's Q2 2012 earnings report.

The mobile credit card reader, announced in March, is now available for users within the US and Hong Kong, including the 300,000 customers who registered on PayPal's pre-launch waiting list. The dongle attaches to a user's handset for on-the-go payments and accepts major credit cards at a 2.7 percent rate, placing it in direct competition with Square. Merchants with a PayPal debit card, meanwhile, are charged at a 1.7 percent rate.

Marcus also announced today that PayPal expects to process $10 billion in mobile payments this year, marking a 150 percent increase over last year. This mobile expansion comes at the same time that PayPal is exploring new offline markets, as well. Two of its retail partners recently expanded PayPal's point-of-sale service, with Abercrombie & Fitch rolling it out in earnest across more than 900 stores in the US, and Jos. A. Bank broadening its pilot program to include 566 outlets nationwide.