New PayPal Here readers are available starting this week.
PayPal Here Card Readers
These new devices will enable the thousands of small businesses that rely on PayPal (NASDAQ: PYPL) to accept payments from their customers and clients. They allow those businesses and contractors to accept newer forms of payment and to take payments where they are without having to send an email invoice.
The “Chip and Swipe” reader is $24.99. The “Chip and Tap” reader is $59.99. Think of these as new mid-range alternatives to the hardware PayPal already sells — priced lower than the PayPal Chip Card Reader (the relatively large one with an entry keypad), but priced higher than the triangle-shaped PayPal Mobile Card Reader (the one you insert into a headphone jack).
Both are EMV-compliant and let small businesses accept magstripe swipe and chip card transactions anywhere. They’re smaller than a deck of cards and are available at Staples, with additional retailers to follow. You can also buy directly through PayPal’s site.
The more expensive of the two, the Chip and Tap reader, is available with a charging stand and will support payment methods such as Apple Pay, Google Pay, Samsung Pay and any other NFC-enabled device or card. Both work with the free PayPal Here app and pair with your smartphone or tablet via Bluetooth.
Through the PayPal Here SDK (software developer kit) implementation, PayPal has partnered with mPOS (mobile point of service) leaders like Invoice2Go, Lavu, Touchpoint.io, and Vend to help businesses accept payments in a quicker, more convenient way. The SDK can be downloaded here.
Image: PayPal
How do they connect with your phone? Bluetooth?
Yes. I also want to point out that anyone can visit the PayPal office (in Greenwich Village, Manhattan) to see mock businesses (a bar, a clothes boutique, etc., etc.) leveraging the PayPal ecosystem. This is done in a guided tour in a dedicated demo space. During mine, the guide was a PayPal manager in charge of innovation, and you can ask questions face-to-face. Just request an exact time and date.
Aira Bongco
Does this mean that you can now accept PayPal payments over the counter? This eliminates the need for withdrawals. I can see a future where everything is paid by PayPal credits.