Use PayPal in your business? The speed and convenience of contactless payments are coming to PayPal Here.
Just under a year ago, PayPal announced a 'chip and PIN' version of its PayPal Here card reader and associated smartphone app. But the market has moved on, and customers increasingly expect to make contactless payments.
This is particularly true for business transactions, where card payments can automatically flow into accounting systems such as MYOB and Xero via bank feeds. In that situation, paying cash means extra work, so those customers are likely to avoid 'cash only' shops and cafes.
And PayPal is aware of this: "We need to ensure we arm businesses with the technology and resources needed to adapt to the ever-changing payments landscape. Our new [contactless] payments solution will allow businesses to take advantage of the popularity of contactless payments here in Australia, as well as continue to take secure chip and PIN payments on the go," said Emma Hunt, the company's director of small business.
Like the current model, the next iteration of the PayPal Here device will connect via Bluetooth to an iOS or Android smartphone or tablet running the PayPal Here app.
At this stage there's no real indication of when the new device will be available (just "later in 2015"), how much it will cost, or whether there will be some kind of trade-in program for those who have recently purchased PayPal Here.
We're also waiting to hear if the upgraded model will be available from Officeworks as well as directly from PayPal.