PayPal Here! secure card reader and app
April 23, 2014Since it was introduced in March 2012, the lightweight triangular PayPal HereTM cardreader device has been a simple way to accept mobile credit and debit cards and PayPal via an iPhone.
PayPal Here is a payment system which uses an app and a portable Bluetooth chip and PIN card reader to easily accept debit or credit card payments.
Read about the original device
PayPal Australia has announced the next generation of Here, which offers increased security and mobility, to give businesses greater flexibility when processing payments.
The secure, chip and PIN credit card reader has been specifically designed for Australia. Chip and PIN technology will soon be mandatory for all ATMs, cards and payment terminals, as signatures for credit card transactions will no longer be accepted.
The card reader turns a smartphone into a complete payment solution. The purchase price is entered into the PayPal Here app, the customer inserts a card and enters their PIN into the card reader, which connects to the app via Bluetooth. The app notifies the vendor that the payment has been processed .. and the transaction is complete!
This convenient e.commerce solution is an innovative technology solution aimed at both small enterprise operators and customers who (according to Reserve Bank of Australia data) are increasingly using cards over cash for low-value transactions.
Security benefits both vendors and customers, as the transaction can be conducted on any location (with an Internet connection), and the card does not need to leave the customer’s sight, preventing card ‘skimming’, where card data is read surreptitiously and later cloned.
The card reader will be available for RRP $139 and each credit card payment will incur a fee of 1.95 per cent. Invoicing will cost 30 cents plus 2.4 per cent, and payments using credit cards keyed into the app, rather than using the card reader, will cost 30 cents plus 2.9 per cent. The Here device will be available later in 2014 and will require no monthly fees or long term commitments.
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