PayPal has unveiled a new point-of-sale solution with NFC capability, meaning that its merchants will be able to accept mobile payments from Apple Pay and Google Wallet.
The new device revealed at Mobile World Congress can take payments from chip-and-pin cards as well as NFC-enabled devices. It will be released in the UK and Australia by this summer and will reach the US later in the year, VentureBeat reported.
PayPal has released an NFC-enabled reader ahead of Square, which announced its chip-and-pin reader in November last year, and is expected to start shipping units to merchants this quarter.
Payment companies are speeding up their product releases ahead of the US EMV-transition deadline and in response to a steady increase in mobile payments. While PayPal released its first EMV reader in the UK in 2013, it promised last month to bring a similar product to the US market.
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.