PayPal to Launch Credit-Card Reader for Smartphones
EBay Inc.’s PayPal electronic-payments service is further tapping into the bricks-and-mortar retail industry by releasing a credit-card reader that small merchants can use on smartphones.
EBay Chief Executive John Donahoe announced the device at a San Francisco event Thursday. The triangular credit-card reader, which plugs into a headphone jack and resembles a paper football, will compete with a square-shaped credit-card reader from San Francisco start-up Square Inc. that has become popular with food-truck vendors and cabdrivers.
