25 July 2014

PayPal Here gets chip and PIN for UK launch

22 February 2013  |  10070 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.
KeywordsEFTPOS

Comments: (0)

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

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

 

Featured job

to £85k base, commission, benefits
London, UK

Find your next job