27 November 2015

PayPal Here gets chip and PIN for UK launch

22 February 2013  |  11459 views  |  0 PayPal Here chip and pin

Setting its sights on the European market, PayPal has unveiled a chip and PIN version of its dongle for turning mobile phones into card payment terminals.

Launched in the US last year, the original PayPal Here consisted of a free app and triangle-shaped thumb-sized card reader which turns handsets into mobile payment systems that customers can swipe their cards through to carry out transactions.

The technology has since been introduced in Canada, Australia and Japan but is not appropriate for markets, such as the UK, where EMV chip and PIN is the standard, so the eBay unit has built an alternative version of the dongle.

The system will be tested with a group of small businesses in the UK over the next few months before a commercial launch in the summer, with other European countries following.

PayPal has yet to confirm pricing; the hardware will have a "competitive purchase price" with a small fee for each transaction. In the US users are charged 2.7% of each transaction's value.

The UK launch sees PayPal steal a march on its big US rival Square, which has yet to break out of North America. However, the company still faces stiff competition in Europe, from the likes of Intuit, Payleven, mPowa and iZettle, which this week launched its own chip and PIN reader.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

20 February, 2013
15 January, 2013
14 January, 2013
18 December, 2012
14 December, 2012
29 November, 2012
13 November, 2012
07 November, 2012
24 October, 2012
01 October, 2012
30 July, 2012
30 May, 2012
04 May, 2012
16 March, 2012
28 April, 2011

Related company news


Who is commenting?

Finextra Member Commented on: EPC publishes proposal...
Finextra Member Commented on: EPC publishes proposal...

Top topics

Most viewed Most shared
BBVA buys 29.5% stake in Atom for £45...
7740 views comments | 34 tweets | 41 linkedin
BNP Paribas to test contactless payment di...
6046 views comments | 17 tweets | 25 linkedin
Former Barclays chief forecasts massive jo...
5792 views comments | 27 tweets | 30 linkedin
Hilton confirms data breach
5326 views comments | 11 tweets | 17 linkedin
Alternative payment methods challenge plas...
5168 views comments | 21 tweets | 23 linkedin

Featured job

Find your next job