Following its acquisition of now Zettle in 2018, PayPal has announced a brand new POS device that’s designed to accommodate the needs of small and medium businesses.
The newly launched Zettle Terminal connects to the internet via Wi-Fi or a free-of-charge pre-loaded SIM card on the 3G and 4G networks to enable business owners to operate on the go. This “completely mobile” approach should appeal to multi-location vendors, as it doesn’t require additional setup or manual connection at every new location.
Along with the usual card support - like Visa and MasterCard - the Zettle Terminal supports American Express payments, contactless payments including digital wallets, PayPal, and Venmo QR codes.
PayPal Zettle Terminal POS
The company is keen to highlight a new feature that it’s rolling out, which will allow merchants to access funds from completed sales in their PayPal accounts within just minutes.
Up until now, vendors have had to wait until the next day to receive all of the previous day's funds in one lump sum. A PayPal spokesperson said to TechRadar Pro that this "faster, near immediate access" to their cash will allow vendors to "see the funds at a transaction level, which will help with reporting and reconciliation."
Right now, the feature is rolling out in the US, and PayPal hopes to roll it out to "additional markets soon."
The PayPal Zettle Terminal is available for purchase today for $199, or with an optional barcode reader for an additional $40. The standard Zettle card reader remains on sale for $79 (or $29 for first-time purchases by new businesses).
An additional charging dock also acts as an on-the-spot receipt printer, which is available for an additional $70 at the point of purchase (or $99 as a standalone purchase).
Card-present payments on both devices are charged at a fixed rate of $0.09 per transaction plus a 2.29% transaction fee. Details on all the fees, including manual card entries and QR code payments, can be found on the PayPal website, where the device and its accessories are also available to buy.
At present, the Zettle Terminal is available in the US as well as the UK, Germany, France, the Netherlands, Sweden, Norway, Finland and Denmark.
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