NFC PayPal Here, Paydiant and PayPal Execs
NFC enabled PayPal Here reader to launch by summer
PayPal today announced it is launching a new NFC enabled version of its PayPal Here Chip and PIN card reader. The card reader will be on sale in the UK by the summer. It will also be launched in Australia at the same time and will be available in the United States later this year.
The new card reader will enable contactless card payments from debit and credit cards adding to the existing methods of accepting credit and debit cards with its Chip and PIN functionality. It will also still be possible to accept PayPal payments via PayPal’s Check-in technology. PayPal Here also allows businesses to log cash and cheques, and send invoices and receipts so they never need miss a sale, nor queue to deposit funds at the bank
There is a one-off charge for the reader (we won’t know the pricing until nearer the launch, but perhaps we’ll see some deals for the current Chip and PIN reader in the mean time?). In the UK, the PayPal Here App can be downloaded from iTunes App Store and Google Play. The PayPal Here card reader can be purchased online or ordered directly through the PayPal Here app.
Narik Patel, Director, Mobile Merchant Services, PayPal UK, commented: “PayPal is leading the way in mobile payments. PayPal Here has been a huge hit with businesses as it has made on-the-go payments easy and affordable for them. Even today, many businesses are turning away sales because they only take cash and cheque payments. PayPal Here enables them to accept card and PayPal payments face to face. And the new version of the card reader will take contactless card payments – enabling UK businesses large and small to take advantage of the boom in contactless payments. It’s a complete payment solution that allows merchants to manage all their payments through one relationship and take advantage of the latest technology.”
He went on to say, “We see NFC technology as one of the many ways that consumers and businesses can pay and get paid. We’ve built it into this product to offer choice to businesses and their customers. That way no matter how you do business, PayPal can help you accept all types of secure payments.”
PayPal acquire Paydiant
It’s also been announced that PayPal are to acquire Paydiant for an undisclosed amount. Paydiant have technology used by large retail chains to create their own branded mobile wallet apps. PayPal have come to the realisation that some brands will never want to integrate a payments gateway, but will want to build their own branded wallets and with the Paydiant acquisition PayPal hope they’ll be an attractive alternative to Apple Pay Samsung Pay or Google.
PayPal exec promotions
At the same time we understand that Dan Schulman, PayPal President and CEO elect has promoted Hill Ferguson from Zong to run the consumer side of PayPal and Bill Ready from Braintree who will head up PayPal’s merchant business.
The challenge for Bill Ready, will be to grow PayPal outside the realm of Internet payments and start to make inroads into more traditional payments, butting up against established merchant card solutions and the banks own payment gateways.