PayPal and Bouncepad unite to make contactless payments cheaper for SMBs
Businesses wishing to adopt contactless payments can use the PayPal Here card reader and Bouncepad enclosure
Paypal has joined with Bouncepad to bring contactless payment technology to smaller businesses at a lower price, using the PayPal Here card reader and Bouncepad tablet enclosure to create a custom solution.
Users just need to bundle the new PayPal Here card reader with the Bouncepad PayPal tablet enclosure and custom card reader cradle which, once they are registered with PayPal Here, enables small businesses to offer a contactless payment solution to their customers.
Tobi Schneidler, CEO of Bouncepad, said: "We're excited to extend our long-standing relationship with PayPal to continue helping small businesses innovate their POS systems. Working together, we're able to offer a sophisticated tablet POS solution that helps small business owners across industries like hospitality and retail make it simple and affordable to join the contactless payment revolution."
Other contactless payment hardware has often proved to be out of reach for many start-ups and small businesses, mainly due to the cost of licenses, long-term contracts and processing fees. PayPal and Bouncepad's collaboration aims to provide a different, cost-effective solution, the firms said.
Last month, it emerged that use of contactless technology is on the up, with Visa announcing that 1bn contactless payments have been made in Europe over the previous 12 months and 8.92 billion spent using it since launch.
"Contactless momentum continues to build as more and more people discover it's often the quickest and most convenient way to pay for everyday things," Sandra Alzetta, executive director of Core Products at Visa Europe said.
"Across Europe, usage levels have soared, with more than one billion contactless transactions made by Visa cardholders in the last 12 months alone. The popularity of contactless will only increase in future as we experience the next generation of digital payments, where the simplicity and convenience is extended to mobile and wearable NFC technology."
PayPal was fined $25 million (16 million) back in May, for apparently luring customers to sign up for its PayPal Credit service by offering promotional rates and then forcing them to use the service regardless if whether they wished to use another payment option.
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