PayPal has launched its own payment system in Australia with a credit card reader that attaches to an iPhone or Android smartphone.
A credit or debit card is swiped in the normal way and details of the sale entered on the phone’s screen. The customer signs on the screen and then enters their email address or phone number for delivery of a receipt.
PayPal charges 2.4% plus 30c for each swipe or PayPal transaction and makes funds available to the retailer immediately. We haven’t seen the process operating live although it seems a little clunky and will probably work out dearer than the current bank EFTPOS processes but for businesses with a smaller number of transactions it may be ideal. Get more details PayPal Here.
