PayPal Launches Credit Card Reader to Accept Mobile Payments For Small Businesses

PayPal, the payments service owned by eBay Inc, unveiled a new device on Thursday that helps small businesses accept credit and debit cards through
mobile devices, entering a fast-growing market now led by start-up Square

“PayPal Here”, as the service is called, will provide a free, triangle-shaped card reader that plugs into the top of mobile devices, allowing merchants to take payments through these gadgets on the go.

PayPal charges a fee of 2.7 percent of the purchase price for all types of credit and debit cards, including those issued by American Express. That compares
with the 2.75 percent charged by Square. Story by Reuters.

Similar Posts: