PayPal has launched a dongle that enables small businesses to accept credit card payments by attaching the device to a smartphone. The dongle effectively transforms the handset into a card reader. The planned launchwas leaked earlier this week. New details from the company’s official announcement include that the dongle will be branded PayPal Here. It will have a distinctive triangular shape (pictured).
PayPal Here will compete against a number of similar rivals of which Square is the most prominent. While Square charges a 2.75 percent fee on card transactions, newcomer PayPal will charge a 2.7 percent fee. The payments giant will also offer a one percent cashback to merchants who use a PayPal debit card to make their own purchases.
In addition to the dongle, merchants can use their smartphone’s camera to scan and process cards and cheques although this is a more time-consuming process. They can also use the app that accompanies the dongle to invoice a customer for payment via email.
The dongle is immediately available for selected merchants in the US, Canada, Australia and Hong Kong. It will become available to all merchants in the four countries in April. The company will announce availability in other countries shortly.
PayPal Here will compete against a number of similar rivals of which Square is the most prominent. While Square charges a 2.75 percent fee on card transactions, newcomer PayPal will charge a 2.7 percent fee. The payments giant will also offer a one percent cashback to merchants who use a PayPal debit card to make their own purchases.
In addition to the dongle, merchants can use their smartphone’s camera to scan and process cards and cheques although this is a more time-consuming process. They can also use the app that accompanies the dongle to invoice a customer for payment via email.
The dongle is immediately available for selected merchants in the US, Canada, Australia and Hong Kong. It will become available to all merchants in the four countries in April. The company will announce availability in other countries shortly.
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