PayPal launches chip and pin device
22 February 2013
Online Payments firm Paypal has launched a chip-and-pin handheld device designed to offer additional sales methods to UK small businesses that have relied on cash or cheques as payment.
This means market traders, taxis and small highstreet shops will now be able to accept credit and debit cards as well as Paypal payments.
There will be an initial cost less than £100 for the Paypal Here device.
The firm owned by eBay, faces competition from other similar devices such as iZettle, Intuit and mPowa, with a transaction fee of less than 3%.
Paypal is offering the devices to a selected few businesses before a full launch in the summer 2013. It will roll out in the UK with other countries to follow.
In the US, it has already launched out a similar device; a dongle that can be plugged into a mobile phone to act as a credit card reader.