Anyone who users eBay will know about PayPal, the online payments service that eBay acquired back in 2002. Well the latest news coming from Paypal is that they have started rolling out their chip-and-pin machine designed to offer new sales methods to UK small businesses that still rely on cash or cheques.
To the various small businesses i.e. taxis, shops, trades and market traders they will be able to accept credit and debit cards as well as Paypal payments. There will be an initial “one-off cost” for the Paypal Here machine, reportedly to be under £100, with a transaction fee of 2.7%.
David Marcus, president of Paypal said: “At Paypal, we spend a huge amount of time talking and listening to small businesses. They are the core of Paypal’s business and they’ve told us that they want a simple, secure way to take card payments anytime and anywhere they trade,”
Paypal Here will initially be putting device into a few select businesses,then the full launch will be in the summer. It will roll out in the UK first with other European countries to follow. You will need to download the app (Android & iOS), then from inside the app apply for the Free card reader. The PayPal link below takes you to the registration page.