PayPal Launches Chip-and-PIN Mobile Card Acceptance in U.K.
Feb. 25, 2013
PayPal, which launched its PayPal Here mobile acceptance system in the U.S. nearly a year ago, has adapted the service for businesses in countries that already have migrated to the EMV standard. Like several companies that recently have launched Chip-and-PIN mobile card acceptance, PayPal Here uses a handheld EMV-compliant card reader that connects to a smartphone or tablet via Bluetooth to accept credit and debit cards. Like its American counterpart, in addition to accepting card payments, the European version of PayPal Here enables businesses to send invoices and receipts as well as taking PayPal payments.
PayPal revealed on its corporate blog it will offer the product first in the U.K. on a limited basis before a full rollout this summer. The company said the card reader will cost under £100 ($151) and merchants will pay less than 3 percent per transaction.