Small businesses keen on taking payments in a mobile environment will soon have things made very easy for them, as PayPal lets us hold the future of credit payments in our hand.

Built for businesses that need it, PayPal has pulled the blue tissue paper from a unique product it hopes will grab the attention of small businesses everywhere.

The device is the next generation of PayPal’s “Here” concept is, well, here, or it will be later in the year for those who need it.

Designed to be small and compatible with smartphones and tablets, the 2014 PayPal Here is a small Bluetooth credit card reader capable of handling chipped (the gold SIM-like bit on the front of new cards) and magnetic strip cards, sending the information to a smartphone quickly and handing that information off to PayPal, making it possible for easy payments through MasterCard and Visa over either credit or debit.

“Today’s shopfront is increasingly mobile with consumers embracing this trend and no longer expecting to have to travel to a shop for everyday goods and services,” said Andrew Rechtman, Senior Director of SMB, and Retail and Strategy at PayPal Australia.

“With PayPal Here we’re proud to offer small businesses a solution that helps them take advantage of every sales opportunity, enabling secure payments online, on mobile and in-store, wherever or whenever they do business.”

The PayPal Here product has been specifically built for Australia, and will make it possible for any business operator who currently uses PayPal to just rely on their mobile phone and the PayPal Here gadget to conduct business, making the whole payments system even smaller and more portable than many of the solutions that exist today.

PayWave technology isn’t included in the system, possibly because if it was it could make the gadgets into portable skimmers, so you’ll need to swipe or slide the card in to get the details, as well as using the app.

The app needed for PayPal Here isn’t ready yet, either, though release is expected in the coming weeks, with availability for Apple’s iOS and Google’s Android. But that’s fine, because the PayPal Here devices won’t be ready until later this year, when PayPal will charge $139 for the card reader.

If you’re keen, you can register your interest at the PayPal Here website, with availability arriving in the months to come.