Global e-commerce company PayPal has launched a revolutionary mobile payment device for smartphones, which will alter the way small businesses operate in Australia.
The lightweight device, titled PayPal Here, is a thumb-sized triangular card reader which attaches to a smartphone and, combined with a tailored application, allows retailers to accept credit or debit card payments anywhere, anytime.
In addition to providing a fully digital and mobile payment solution, PayPal Here also allows merchants to personalise their internal inventory, track cash transactions and directly invoice customers. Payments accepted with PayPal Here will be charged a fee per transaction, with payments are deposited immediately into the sellers PayPal account and the device is now available for purchase via a set fee structure with no set-up costs.
PayPal Asia Pacific head of new ventures Brad Paterson said the PayPal Here device signals a new era for retailers and shopping.
“PayPal Here will provide Australian small businesses with a unique, convenient and easy-to-use solution to process payments while on the go. With no other solution of its kind in the Australian market, PayPal Here complements PayPal’s online payment solution, by enabling merchants to accept payments online, offline and manage their entire cash flow in one place,” he said.
Paterson also revealed that PayPal is working towards further updating its consumer mobile application to enable an innovative ‘check-in feature’, which will allow customers to 'check-in' via smartphone to any store accepting PayPal Here with the merchant is instantly notified via smartphone also.
The fresh feature, which is set to launch in the coming months, will also allow merchants to process payment online with PayPal using the customer's details upon check-in, without the need for cards or cash.
“This device brings a truly new and innovative solution to the Australian payments industry which will have a huge impact on reducing the stress of taking and chasing payments for small businesses and service providers across Australia,” Paterson said.
PayPal Here is currently available on iPhones to a select number of merchants participating in an exclusive release of the solution, with general release expected in the near future. The Android version is also expected for general release soon. The smartphone swipe device will be free for any business owner who registers their interest via the PayPal Here microsite in the first six months from launch at www.paypal.com.au/here.