PayPal launches credit card reader for taking mobile payments

PayPal, the payments service owned by eBay Inc, unveiled a new device on Thursday that helps small businesses accept credit and debit cards through mobile devices, entering a fast-growing market now led by start-up Square Inc.

"PayPal Here" -- as the service is called -- will provide a free, triangle-shaped card reader and mobile application to small merchants.

That gadget, sometimes referred to as a dongle, plugs into the top of mobile devices like Apple Inc. iPhones and, soon, Google Inc. Android smart phones, allowing merchants to take payments through these gadgets on the go.

 

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