PayPal has made its portable chip-and-PIN card reader, called PayPal Here, available to all merchants in the U.K.
Processing Content
PayPal unveiled the EMV-chip version of the PayPal Here reader in February, but offered it to only a handful of test merchants ahead of the product's planned summer launch. Greedy Goat, which sells goat's milk ice cream, used PayPal Here to accept card payments from patrons in London.
PayPal is one of the few U.S.-based vendors to offer a chip-and-PIN version of its mobile card reader. The U.S. version of the reader plugs into a mobile device's headphone jack and reads swiped car payments. The U.K. version is a separate wireless device that includes a PIN pad.
The U.K. version of PayPal Here is meant for merchants that typcially rely on cash, PayPal says in an Aug. 22 blog post.
PayPal also recently brought its photo-based mobile wallet to the U.K. The software-based wallet stores an image of the user's face, which is presented to the merchant for authentication. Shoppers use PayPal's app to check in at merchant locations to signal their arrival and their intention to make a purchase.
Daniel Wolfe is interim editor-in-chief of Digital Insurance and director of data services at Arizent, which publishes DI and American Banker. In... Read full bio
Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
In a move seen to bolster his 2028 presidential run, California Governor Gavin Newsom named Rohit Chopra, the former director of the Consumer Financial Protection Bureau, to lead a new oversight agency; a Pine Bluff, Arkansas, bank employee was sentenced to 36 months in federal prison for bank theft; a Fairfax, Virginia, security administrator has been charged with allegedly stealing more than $6.6 million from his employer; and more in this week's banking news roundup.
The Mississippi lender's pending acquisition of OFB Bancshares, the parent company of One Florida Bank, offers an entry point into the fast-growing Orlando market.
