PayPal reveals mobile credit card reader, undercuts competition

By Rick · 7 replies
Mar 16, 2012
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  1. Earlier this week, PayPal mentioned plans to compete against Square, Intuit and other credit card payment processors. The company aims to become yet another way to process credit cards on the…

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  2. lawfer

    lawfer TechSpot Paladin Posts: 1,270   +91

    With NFC surely becoming a thing in 2013, I'd classify this idea as a yet another failed business strategy.
  3. howzz1854

    howzz1854 TS Evangelist Posts: 611   +94

    this is such a GREAT news for small business people who want to start charging credit cards but are always bullied by transaction payment processors.

    i would totally expand my wife's home business if i can get my hands on one of these!!
  4. PinothyJ

    PinothyJ TS Guru Posts: 460   +22

    This is amazing!

    Credit card institutions do not need ANY more money than they are already reeling in…
  5. They're only now embracing plastic card-reading tech? NFC and mobile banking is the way to go.

    Even if this weren't a fail from the start, I refuse to use anything from paypal; they'll probably just lock my account and make interest off my money for 180 days, as per usual.
  6. PayPal are desperate, and a plastic card reader isn't going to save them from mobile banking apps, NFC, and most of all, their own oustandingly horrible and universally reviled customer service. PayPal as a brand has slowly been poisoned by their own greed and lack of empathy when they screw over their own customers on a regular basis.

    PayPal is a cancerous business that only gets to insert itself in the payment business in the United States, because US banks are even more horrible and reviled.
  7. this is a great idea but its coming from the wrong company, and yes paypal does practice unethical business practices. they lock ur account for months while they earn interest and then they say "ahh yes your account is clear your good to go"

    i would almost recommend this to small businesses but this is a double edged sword.
  8. webwalker

    webwalker TS Rookie

    yet one more scheme by paypal to rip people off. some one please put these jokers out of business .

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