PayPal is already popular for online payments, and with PayPal Here, the company possesses a slice of the mobile payments market too.
The PayPal Here app allows merchants to accept payments from most credit cards for 2.7% per swipe and 3.5% + $0.15 per manually entered or scanned card. For foreign cards, there is a 1.5% additional cross-border fee plus a currency conversion fee (2.5% or 3% have been quoted) if relevant.
There are three iPhone credit card readers to pick from. PayPal Chip & Swipe Reader for $24.99 is the cheapest one, but it doesn’t accept contactless. The PayPal Chip & Tap Reader (pictured below) costs $59.99 and accepts tap, swipe and chip payments. The Chip Card Reader is also 3-in-1, with a keypad built in as well.