Ross Rubin PayPal’s New Magnetic Striped Readers

March 20, 2012

The eBay-owned payment service provider PayPal has recently created a magnetic stripe payment reader called PayPal Here that allows flexibility to businesses of all sizes to collect credit card-based transactions nearly anywhere. Unlike current competitors Pioneer Square and Intuit who are for those who collect payments, PayPal Here caters to those who want to collect payments. The iPhone case (named the Geode) combines a fingerprint reader for identification, an e-paper display for showing loyalty card barcode information to merchants, and a GeoCard that can be reprogrammed on the fly with the information for any credit card only to time out seconds later to discourage fraud. Ross states, “The Geode does for plastic credit cards what the iPod did for songs and the Kindle for books — aggregate their digital implementations so you don’t need the physical ones present. That could help reduce the risk of credit cards being compromised. Still, it is a high fee to pay for the tradeoff of slimming down one’s wallet at the expense of bulking up one’s iPhone.”

Ross has more than 16 years of experience analyzing consumer technologies. Prior to founding Reticle Research, he was executive director and principal analyst at The NPD Group, where he provided analysis on a wide range of technology topics to clients and helped to launch several research products. Before NPD, Ross founded and developed the consumer access and technology service at Jupiter Research, where he served as vice president and chief research fellow. Ross is a senior columnist for Engadget, where he has written the Witched On column since October 2004, and a columnist for ABCNews.com and Tecca, where he writes Rubin’s Roundup. Ross has appeared on ABC, The Today Show, CNN, CNBC and Fox News and is frequently quoted by media outlets such as The New York Times, The Wall Street Journal, Bloomberg Businessweek, San Jose Mercury News, Associated Press and other leading publications. To learn more about Reticle Research please visit http://www.reticleresearch.com/.

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