Of Special Interest
20th March 2012
PayPal phone to card acceptance device converter
PayPal Here, the anticipated add on to a smartphone turning the phone into a card acceptance machine has launched. It is currently available to select merchants in the United States, Canada, Australia and Hong Kong, with a promise to widen this to all merchants in those countries next month. Availability in other countries is promised soon. At this time, the hardware dongle and ap is available for iPhone only with the promise of an Android version soon. The dongle is a triangular device fitting into the headphone sub-miniature jack-socket.
The related ap can also take payment from a PayPal account following a tap by the customer. The merchant then scans the PayPal screen on the user's smartphone showing the user's picture and username. The customer then confirms the payment.
PayPal has priced aggressively for small merchants. The discount is a flat rate of 2.7% with no standing charges and almost immediate credit to the merchant account. In addition, every PayPal Here merchant will receive a business debit card for quick access to cash and 1% cash-back on eligible purchases.