PayPal Here release new NFC card reader

The new PayPal Here card reader has been launched today.

This latest version of PayPal Here now supports NFC (Near Field Communication) transactions enabling you to accept contactless payments from Visa, Maestro and MasterCard debit / credit cards as well as Apple Pay.

Available from the PayPal website at a cost of £79.95, the new card reader is a pay-as-you-go solution for small businesses that need to take payments on the go or trade seasonally and don’t want the tie of monthly fees.

After the one of cost of purchasing the device you then pay a fee (currently 2.75% but fees will change in the near future) every time you make a transaction. The new card reader includes a screen which makes pairing with a smartphone or tablet easier than ever.

The PayPal Here app and card reader will continue to process Chip and PIN payments and those taken by swiping the magnetic stripe whilst also offering a range of other services, such as invoicing and receipt processing, and cash and cheque logging.

As previously, users simply download the PayPal Here mobile app free from iTunes or Google Play before following simple, on-screen instructions to link the new card reader wirelessly to their smartphone or tablet.

The great thing about the new PayPal Here devices is that people are becoming more accustomed to tapping their card to pay, although currently transaction limits are relatively low. However it’s also an easy device to carry around when you’re attending markets, trade shows and exhibitions and so long as you have WiFi or a mobile phone signal you can take payments from anywhere.

There’s nothing worse than letting a customer walk away because they don’t have sufficient cash in their pockets as nine times out of ten they don’t come back. PayPal Here solves that problem without having to sign up to a monthly fixed cost for traditional merchant bank solutions.