Available from the PayPal website, the new card reader is a pay-as-you-go solution for small businesses that need to take payments on the go or trade seasonally and don’t want the tie of monthly fees. There is just the one off price of the device and the business then pays a small fee every time they make a transaction. The new card reader includes a screen which makes pairing with a smartphone or tablet easier than ever.

The PayPal Here app and card reader will continue to process Chip and PIN payments and those taken by swiping the magnetic stripe whilst also offering a range of other services, such as invoicing and receipt processing, and cash and cheque logging.

Cameron McLean, Managing Director, PayPal UK, says: “Contactless payments are taking off in Britain, with over 58 million contactless cards in use and spending on them trebling in 2014. The new PayPal Here card reader is a game changer for businesses wanting to respond to customer demand for ‘tap and go’ payments. It also accepts Apple Pay transactions, so the smallest of businesses can now offer the latest way to pay wherever they trade. It’s the latest example of how PayPal’s innovations in mobile payments are helping British businesses to succeed.”

The new NFC-enabled PayPal Here card reader builds on the success of the original design, which was launched in 2013 and thousands of businesses are currently using it to process payments right across the UK.

As previously, users simply download the PayPal Here mobile app free from the iTunes App Store or Google Play before following simple, on-screen instructions to link the new card reader wirelessly to their smartphone or tablet.