UK PayPal Providing Customers Card Readers for Mobile Payments

UK PayPal is to provide its customers with the Square functionality and further details can be read on the Paypal blog. Mobile business customers will be able to use and accept card payments from anyone on the move with chip and PIN processing capability. It is expected to be available to all sometime in the summer.

It is called PayPal Here, which comprises of a card-reader that can used alongside an iOS or Android smartphone combined with the PayPal Here mobile app. It is expected for the PayPal card reader to cost around £75, and for every single payment it will cost around 2.75% transaction fee. 

Other current competitors in UK market include iZettle, Payleven, SumUp, mPowa and soon too Intuit.

Cameron McLean, of PayPal UK stated in a context of small businesses benefits: "Cash and cheques have served us well over the years but businesses that rely on them risk missing valuable sales". 

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