Wednesday, May 29, 2013, 10:54 am PT (01:54 pm ET)
iOS compatible 'Chip and PIN' card reader goes on sale at European Apple storesMerchants looking to collect credit card payments on the go have a new option from Payleven, which has launched its "Chip and PIN" card reader at Apple's retail and online stores in Europe.
Payleven has become only the third card reader solution to go on sale at Apple's stores, and is the very first to do so with the Chip and PIN solution popular in Europe, The Next Web reported on Wednesday. The first card reader to hit Apple's stores was Square, which has become the seemingly default option for card swiping on the go in America.
Payleven is hoping to become the Square of Europe with its Chip-and-PIN solution, which is the brand name adopted by banks in the U.K. and Ireland for EMV smart card payments. Chip refers to silicon embedded in the customer's card, while PIN stands for the personal identification number that a customer must supply to authorize a transaction.
Though they're not widely used in the U.S., Chip and PIN cards are almost universal in Europe. Payleven's launch at Apple Stores marks the first time that a Chip and PIN product is available at mass market retail.
The accessory maker first started talking to Apple about its product before it launched in February 2013. Company co-founder Konstantin Wolff revealed that getting a product on Apple's shelves has a number of requirements that cover product design, availability, and packaging.
"In the end, the Apple brand stands like no other for innovation and state-of-the-art technology," Wolff told The Next Web. "Ultimately, the ability to meet their specifications as well as being a Pan-European player were key success factors in this deal."
Apple's stores have served as the launching pad for a number of high-profile innovative products over the years. Most recently, Apple was the first retailer to carry Philips Hue connected LED bulbs, as well as Nest learning thermostat.
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