Hill Ferguson, Senior Vice President, Global Head of Consumer Business
We’re excited to be back at this year’s
Mobile World Congress. As I’ve said before, 2014 started changing the game for payments and we’re at an inflection point to push more payments than ever into the digital realm for 2015, thanks to innovations across the industry. I have no doubt we will see more momentum for mobile payments this week at MWC.
Our approach to payments is simple. PayPal’s flexible technology, open ecosystem and global reach into 203 markets allows us to not only scale and deploy quickly, but also deliver seamless and secure customer experiences that help save people time and money. By being a strategic partner to merchants, we can help them grow their business and reach more customers. That’s why today, we are announcing a new NFC-enabled PayPal Here Chip and PIN card reader, which will start rolling out in the UK and Australia this summer; and in the U.S. later this year.
Our goal is to make it easy and fast for merchants to accept all types of secure payment methods no matter how they do business. As U.S. businesses make the transition to EMV technology this year, the new PayPal Here card reader will enable both Chip and PIN and contactless payments from debit and credit cards, and mobile devices. It will still be possible for businesses using PayPal Here to accept PayPal payments via PayPal’s Check-in technology, track cash and checks, and send invoices and receipts so they never miss a sale.
The new NFC-enabled PayPal Here Chip and PIN reader will simply pair via Bluetooth with a smartphone or tablet (for iOS and Android) and accept secure payments through the PayPal Here app anywhere. Businesses of all sizes will now be able to accept contactless payments, wherever they do business. The NFC element will work in the same way as contactless payment works in-store. You tap your card or mobile device on the screen of the reader until the LEDs show at the top of the card reader.
With PayPal Here, there’s just a one-off charge for the reader (pricing to be shared at launch) and a small fee for each transaction*. To start accepting payments right away, businesses can use the current version of PayPal Here. The app can be downloaded from the iTunes App Store and Google Play, and the PayPal Here card reader can be ordered online or directly through the PayPal Here app.
Overall, we’re committed to continuing to deliver payment solutions that are built for the future and provide both merchants and consumers’ with choice, flexibility, convenience and security, and today’s news it just the latest example. Stay on top of PayPal’s news at Mobile World Congress by following us @PayPal and @PayPal4Business.
*Every U.S. card swipe is 2.7%. Keyed transactions 3.5% + $0.15; Manually enter a card number or scan a card, at a 3.5% transaction fee plus $0.15; 1% Cross-Border Fee: Accept non-US cards for the standard 2.7% per swipe plus 1% cross-border fee.