Payleven Announces New NFC based Mobile Chip & PIN Card Reader for SMEs

These days’ small business owners are taking the non-traditional approach. They are signing up with mobile POS providers like Square, iZettle, Payleven, SumUp, Swiff, PayPal, etc to receive cashless payments. On 19th March 2014, Payleven announced the launch of an NFC based mobile Chip & PIN card reader – to be deployed in the European market during the second half of 2014.

Founded by payment experts and entrepreneurs Konstantin Wolff (CMO), Rafael Otero (CTO) and Alston Zecha (COO), payleven brings fresh air into the traditional world of finance. The company has 90 employees working in the UK, Germany, Austria, France, Italy, Spain, the Netherlands, Belgium, Poland and Brazil.

Payleven is a provider of mobile card payments. Based on a ‘plug and pay’ principle, payleven merchants can provide their clients with chip & PIN debit and credit card payments via their smartphone or tablet devices. With the launch of the new device, payleven will eliminate this barrier through a competitively priced unit, aimed explicitly at Small and Medium sized businesses.

  • In 2013, Payleven became the first company to bring the Chip & PIN card reader to Europe, enabling customers to accept card payments on the go.
  • The new card reader combines mobile CHIP & PIN technology for debit and credit card payments with NFC.
  • It enables payleven users to accept contactless payments wherever they are.
  • It will be offered for a much lower price (around €100) than other NFC card readers (around €400 – €700) present in the market currently.
  • As with the existing payleven chip & PIN card reader, the NFC version is set to have no fixed costs, no minimum monthly payments and no fixed contract.

'NFC definitely has the potential to become the market standard for contactless payments. However, until now the hurdle for SMEs has been the huge cost associated with it', said Payleven COO, Alston Zecha. 'By launching our new device we will be offering a disruptive solution that will help our customers to keep up with cutting edge technology, making their business even more efficient with NFC.