Mobile POS provider payleven announced the European launch of its chip-and-PIN solution. The new device is different from other mobile POS solutions that use a dongle connected to smartphone to read the mag stripe on credit and debit cards.

The payleven device reads EMV chip cards, and has a keypad that the consumers uses to enter a PIN, making transactions more secure. It links to a smartphone or tablet using Bluetooth. The device has been officially certified by both Visa and MasterCard to accept their branded cards.

"We are excited to launch the perfect solution for the European market," said payleven co-founder and CMO Konstantin Wolff. "Since Visa requires PIN authorization at the mobile point of sale in Europe, we are now in the position to allow our merchants to accept the leading card brand in the world — Visa. With chip-and-PIN we can offer our merchants the highest security standard in card payments whilst being fully mobile, more flexible and convenient than traditional card terminals."

Payleven said it will be selling its chip-and-PIN device for €49 ($65). Merchants will also pay a 2.75 percent fee per transaction. The chip-and-PIN solution will be offered in all payleven markets across Europe, including the U.K., Germany, Italy, the Netherlands and Poland. The company said it will begin shipping the devices beginning Feb. 18.

Launched in March 2012, payleven is backed by Rocket Internet. It has headquarters in London and Berlin.

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