PayPal Turn Your iPhone into a Payment Terminal [Video]

Electronic payment system PayPal has introduced a new gadget called PayPal Here, which allows you to pay by credit card via your iPhone. Among the most likely users of the totally new payment solution called the small cafes, roadside shops and private enterprises from the scope of public service.

PayPal Here is a card reader - small blue triangle that is attached to the phone via a standard headphone jack. Currently only compatible accessory for the iPhone and the players, iPod touch, and will soon be available for smartphones running Android. The device encrypts the data on a plastic card with the code and the information is not stored in the phone.

Device PayPal Here, as the corresponding mobile application will be provided free of charge. The company said that on Thursday launched service will allow small businesses to avoid the costs associated with the organization of complex payment solutions and expand the acceptance of cash by cards or mobile phones in a matter of days and at minimal cost.


Payment system will charge with a fee of 2.7% of the amount transferred. In addition, PayPal offers a debit card, which will return 1% of the transaction. Thus, the Commission will be reduced to 1.7%. 

PayPal Here the company will compete with the service Square, which invented a similar device back in 2009. Reader of this company is compatible with iPhone, iPad and phones based on Android, quickly became popular in small businesses, in particular among taxi drivers. 
| March 18, 2012 Related Topics: Apple, iphone, news