Buy chips with Paypal’s new chip and pin device
We’ve all been there – staggering into a taxi and realising we’ve got no money, having to walk to a cash machine to buy knock off lighters from the market…But now, Paypal has launched a new chip-and-pin machine for even the UK’s smallest businesses.
Called ‘Paypal Here’ it costs under £100 to buy the device and means that market traders, taxi drivers and food vans will be able to accept debit and credit cards, with a transaction fee of less than 3%.
It’s not the first of its kind: Paypal has competition from similar devices. But honestly, would you stick your card in something called an iZettle?
Mark Thomas, an ice cream seller in Borough Market, will be the first to try out the device, so expect some media poncery of the highest order when it fully launches in the summer.
Still, it’s pretty exciting stuff. Just think, next time you’re hammered in the kebab shop you can suavely say: ‘Do you accept American Express? ’ just before you vomit on your shoes.