Keeping the recent and exponential global growth in mobile commerce in mind, PayPal has recently unveiled a nifty device that allows merchants to accept debit or credit card payments anywhere, anytime.

'PayPal Here' is a pocket-sized triangular credit card reader that can be plugged into any Android phone or iPhone. It is attached to the audio jack of the phone and using an app, the smartphone can be transformed into a POS device.

Payments can be made easily by simply swiping the debit or credit card on the card reader. One can also scan checks by using the phone's camera.




















Invoices can then be generated as and when the transaction is made, these invoices can be tracked in the app. It is important to note that although the card reader and the app is free, but PayPal charges 2.7% fee for every transaction.




Check out the video below to see how it works:






The card is currently available for merchants in the US, Canada, Australia and Hong Kong.

So far, the device seems to be a smart solution for merchants, who can now make transactions at ease, and keeping PayPal's strong background in online payments in mind, it sure will surpass similar devices like Square.

We would love to hear your views on it, do share them with us in the comment section below.