PayPal acquires mobile remuneration start-up Fig Card

 Online remuneration use PayPal has acquired Fig Card, a mobile remuneration start-up that replaces credit cards with smartphones.

Boston-based Fig Card enables merchants to accept mobile payments with a USB device that plugs into a money register, according to a Thursday post on a PayPal blog. Customers contingency download a Fig Card app in allege and set adult a remuneration method, though no hardware is required.

“We desired [Fig Card's] proceed to point-of-sale,” a post said, “particularly since it was driven by a same prophesy that we have during PayPal — in a future, exchange can be as intelligent as a mechanism and not as reticent as paper.

“We don’t need a earthy wallets. We’ll be means to compensate any approach we want, from any device, anywhere in a universe with both coherence and privacy.”

Fig Card’s indication differs from Square, a renouned mobile remuneration complement with that smartphones and iPads can be used as credit label readers. A small device that plugs into a earphone jack accepts credit label swipes; a use after emails a receipt to customers.

This is a second merger in as many weeks for primogenitor association EBay Inc., that appears to be angling for a good position with a bursting recognition of smartphones and mobile app technology. Earlier this month, EBay bought location-based promotion association Where.com, that builds apps that list and advise deals for internal restaurants, bars, stores and events.

EBay has kept silent about a accurate terms of both deals.

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– Shan Li

Photo: EBay and PayPal signage during association domicile in San Jose. Credit: Tony Avelar/Bloomberg