The PayPal Here Chip Card Reader is coming to America, PayPal has announced. The device will launch on September 30th.
About the size of a calculator, the PayPal Here reader essentially enables NFC (Near Field Communication) payments for merchant’s POS terminals. Its launch in the US anticipates the coming EMV liability shift, a regulatory standard that is basically going to make merchants liable for fraud connected to the use of traditional swipe-based payment cards, effectively pressuring retailers to embrace the NFC reader technology. It’s a good reason for small businesses to take advantage of the PayPal Here value proposition, with each device priced at a mere $149 USD, with a $100 rebate for businesses able to generate $3,000 in transactions within three months.
Another good reason is the rise of mPayment systems. While Samsung Pay is compatible with both NFC and swipe-based readers, the well-establish Apple Pay and newcomer Android Pay both require NFC readers at merchant POS terminals. As more consumers seek to take advantage of the convenience of such platforms, many small business owners will likely see a benefit in setting up PayPal’s plug-and-play solution. And given PayPal’s own budding interest in the mPayment market, that could be a big win for the company further down the road, too.