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PayPal is working on a new card-swiping device that will charge a 2.7 per cent fee per transaction compared to Square’s 2.75 per cent fee, Bloomberg reports.Not only that, but they’re hiring Yves Behar’s design firm Fuseproject to create a triangle-shaped card reader that will match the design savvy of the Square card reader.
The new device is said to be blue and also plug into the headphone jack of a smartphone, Bloomberg reports.
Behar has worked on a lot of projects — notably a lot of the Jawbone products.
Also, he’s designed a vibrator.