PayPal is to launch a device that lets small traders, from Ice Cream sellers to taxi firms, accept payments via their smartphones. Watch a video explaining how the service works below: The device, called PayPal Here attaches to the trader’s phone and links to an app which acts like a till. Customers can then swipe […]
PayPal is to launch a device that lets small traders, from Ice Cream sellers to taxi firms, accept payments via their smartphones.
Watch a video explaining how the service works below:
The device, called PayPal Here attaches to the trader’s phone and links to an app which acts like a till. Customers can then swipe their card through the device and enter their pin to complete the transaction.
The scheme aims to provide a cheaper alternative to card payments which can be costly to small firms.
Customers use the device in the same way that they would a chip and pin machine in a high street store.
PayPal has said the device will not tie traders into a contract, although they will need to pay a yet to be disclosed one-off charge for the device and a “small fee” per transaction.
Cameron McLean, managing director of PayPal UK, said: “Cash and cheques have served us all well over the years, but businesses that rely on them risk missing valuable sales.”
The pocket-sized device is set to be launched in the UK this summer.
