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PayPal Here U.K. launch scheduled for Summer 2013
Following on from its launch in several countries last year, PayPal is now trialling their PayPal Here mobile payment service in the UK before a European roll-out later in the year.
PayPal here debuted in, among other countries, the U.S., Japan and Australia last year. Now Europe is on PayPal's radar and the U.K. is set to be the first European country to benefit from the system when it launches in Summer 2013.
It's been tough for the payments provider to get to grips with Europe's Chip and PIN system, unlike the magnetic strip system used in the U.S., hence the delay in introducing the payments solution into Europe. However, they have now come up with a device for the European market that is roughly the size of a smartphone.
The device allows merchants to accept credit and debit cards, connecting to a new PayPal app that merchants can run on iPhones and Android smartphones. Payments can be accepted just about anywhere - a market stall, shop, taxi or even in a customer's home.
PayPal will charge customers a nominal fee for the new device, and will also take a per-transaction fee, much like it does with the U.S. version.
"For Chip and PIN devices, it's not realistic to bring the cost down to zero," said Rick Oglesby, a payments industry expert at Aite Group. "That tends to temper the demand a little bit. But it also weeds out really small merchants and individuals who won't use it as much."
An online video explains how PayPal Here will work in the U.K.
"This game changing product reflects the huge amount of time we spent talking and listening to small businesses. They are the core of PayPal's business and they've told us that they want a simple, secure way to take card payments anytime and anywhere they trade," writes Cameron McLean, Managing Director, PayPal U.K. on the company blog.
"We've used that feedback to create what we think is the best payment device ever created. It's a great example of our vision for PayPal: a wonderful customer experience from the moment the PayPal Here app is downloaded to taking the device out of the box and accepting a first payment. We've even included a 'click to call us' button in the app so our customer service team can be reached in one click just in case help is needed."
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