PayPal, the payments service owned by eBay Inc, jumped into the nascent mobile payments arena on Thursday with a new device that helps businesses accept credit and debit cards via mobile devices, taking on early-moving start-up Square Inc.
“PayPal Here” — as the service is called — launches in the United States, Canada, Australia and Hong Kong on Thursday. Small business merchants in those countries can sign up and get a free, triangle-shaped card reader and mobile application to affix to mobile phones.
That gadget — sometimes referred to as a dongle — plugs right into the top of devices like Apple Inc iPhones and, soon, Google Inc Android smart phones, allowing merchants to take payments through these gadgets on the go. Full Story