PayPal Unveils Device For Mobile Payments
PayPal has unveiled ‘PayPal Here’, a mobile payment solution for small businesses to accept card payments.
The PayPal Here device is a pocket-sized triangle-shaped credit card reader.
When the device is plugged into an iPhone’s or Android’s audio jack, and accompanied with its ‘PayPal Here’ app, the smartphones would be transformed into POS devices.
Payments can be made by swiping debit and credit cards on the card reader, or by scanning checks using the phone’s camera.
Invoices would also be immediately sent when the transaction is made, and can easily be tracked in the app.
Although the app and card reader are free, PayPal charges a transaction fee of 2.7% each.
The card reader—designed by Yves Behar of fuseproject—is currently available at select merchants in the US, Canada, Australia and Hong Kong.
An app for Android will soon be available.