The tech sector has made us certain promises with regard to how we’ll pay for things going forward.
They gave us NFC chips, with the promise that we’d eventually wave our smartphones around in the air in front of point of sale and make magically payments.
And with the new fangled term “nearby networking” cropping up in conversations about emerging tech (like the looming iPhone 6), you’d think that now would be the time for some long overdue disruption in the realm of payments.
Well, it looks like the disruption we’ve been waiting for has arrived.
Payment processing stalwart, PayPal has recently announced a partnership with Officeworks that will make PayPal Here, a Bluetooth enabled chip and PIN card reader that allows businesses to take payments anywhere, on the go.
Now, Australian small businesses can rapidly deploy mobile payment terminals that used to require considerable (signature capture -related) red tape.
Mobile payments: easy as they oughta be
“Traditional payments infrastructure once meant that setting up mobile payments facilities resulted in hefty fees, long wait times and cumbersome policies that was unsustainable for many small businesses,” said Andrew Rechtman, Senior Director of SMB, Retail and Strategy at PayPal Australia, in a recent press statement.
“Now, anyone from a young entrepreneur to an established business owner, will be able to head into Officeworks, purchase a payments terminal and accept card payments straight away. This represents an exciting shift in the payments industry, providing businesses with access to funds with less hassle and fewer barriers to entry.”
A timely disruption
These changes come hot on the hills on a major policy change brought about throughout the country effective 1 August 2014. As of that date, Australians are required enter a four-digit PIN number to make purchases. The old method of signature capture, on that day, went the way of the fabled Dodo. And businesses are left with no choice but to change with the times.
In light of the difficulties associated with converting nearly a million, PayPal Here is a timely innovation. The platform turns the smartphone into a complete payments solution, allowing businesses to not only accept credit and debit card payments, but also to generate and distribute invoices and send receipts.
PayPal’s partnership with Officeworks is made with small businesses forced to make this change in mind.
“With thousands of small businesses already using PayPal Here, we’re thrilled to be bringing our complete payments solution in-store at Officeworks,” said Rechtman in a press statement.
“Fully encrypted and backed by PayPal’s world class security, risk and fraud management systems, this new partnership will allow more Australian businesses to securely accept multiple forms of payments, while also helping to meet growing consumer demand to pay with the digital wallet,” Mr Rechtman concluded.
PayPal Here can be found at Officeworks and at www.paypal.com.au/here.
