PayPal unveils Zettle PoS terminal: what it means for the UK retail market

The launch of the Zettle terminal in the UK by PayPal has caused a stir in the retail industry. What does this device do and what effect might it have on the overall market?

What Is the Zettle terminal?

Previously known as iZettle, the Zettle is a Point of Sale (PoS) terminal for processing the payments relating to in-store transactions. This is a standalone device that is designed to make it easier for small to medium-sized retailers to accept payments on a fully-mobile basis.

It comes with a SIM card and gives merchants more freedom because of the way it can be moved around and operated using Wi-Fi or a mobile connection. Plus, an improvement expected for next year should see the addition of a built-in barcode scanner.

This design means that retailers can use this device far more freely than a fixed PoS that is located in a certain part of the store, restaurant, or outlet at all times. In this way, the business can complete the transaction wherever the customer is, rather than having to lead them to checkout.

The Zettle has been launched in the UK first of all, with other markets to receive the device later in the year.

Jim Magats is the Senior Vice President of Payments and SMB Solutions at PayPal, and he said that this is an “entire store kit” that they are putting into the hands of small businesses.  

What could this mean for the UK retail market and PayPal?

This new PoS solution should help small businesses to introduce slicker selling and payment processes, allowing them to offer a faster, more personalised in-person commerce experience. It can be used straight out of the box, with no time-consuming set-up or the need to pair it with another device.

This will allow small retailers to carry out their digital transformation, which is crucial given that 9.6 billion contactless payments were carried out in the UK in 2020. Consumers now expect a fast, seamless experience when paying, and the Zettle terminal should help to meet those needs.

With almost 300 million customers worldwide, PayPal continues to be one of the most trusted names in terms of online payments and money transfers. This is evident in the fact that it is widely used in such a broad spectrum of industries, such as e-commerce and even online casinos, where it is regarded as one of the safest banking methods.

This list of reputable PayPal casino sites confirms that it is accepted by brands such as Casino Lab, 888Casino, and LeoVegas, where it sits alongside the likes of Apple Pay, Visa, and Skrill as the most popular payment methods.

Many major online sites and stores such as Adidas, Calvin Klein, iTunes, and Netflix all accept this as a payment method as well, meaning that it can be used for diverse products and services. 

The payments giant has been expanding into new markets in recent years, through the addition of services such as cryptocurrency purchasing and installments plans on a buy now, pay later basis.

While PayPal remains one of the biggest names in the online payments industry, the introduction of the Zettle solution suggests that they are still looking for ways to meet the demands of a changing market and trying to remain relevant among increasing levels of competition.