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NewsPoster May 29, 2013 11:22 AM
Payleven brings chip-and-PIN card reader to Apple Stores
Payment service Payleven is bringing its chip-and-PIN card <a href="">reader</a> to European Apple Stores, <a href=" n=Feed:+TheNextWeb+(The+Next+Web+All+Stories)">say s</A> <em>The Next Web</em>. The reader pairs with an iPhone, iPad, or Android device via Bluetooth, and lets retailers read chipped credit cards from companies like Visa and MasterCard. Unlike the US, Europe has largely abandoned cards with magnetic strips.<br /><br />In the UK the reader costs &pound;99, and comes with a &pound;20 credit towards payments, plus no monthly fees or contracts. Payleven does however charge 2.75 percent per transaction. The service operates in the UK, Italy, Germany, Poland, the Netherlands, and Brazil. At the moment, the Payleven hardware is the only chip-and-PIN reader sold by Apple.<br />
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FireWire May 29, 2013 07:01 PM
Should read "unlike the rest of the world, the US hasn't catched up and still use the archaic magnetic strip". Not to brag, but in Qu├ębec we're even using contact-less payment..

Is it me or the fees are outrageous? 2,75% ??? it seems a flat rate would be more right..
Charles Martin May 29, 2013 11:25 PM
FireWire: my cards have both chips AND magnetic stripes, indicating we're still in a transitional phase ... as for the fee, it's about par for the course for credit card companies here. Some are lower than that, but Amex for example is higher (4%) IIRC.
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