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PayPal Plans Mobile Payment Device: Hot Trends

NEW YORK ( TheStreet) -- Popular searches on the Internet Thursday include eBay's (EBAY) PayPal on reports the online payment service is planning a mobile credit card-swiping device that will rival Square.

PayPal is reportedly planning to unveil a a credit carder reader in the form of a blue triangle-shaped unit that can be plugged into the jack of smartphones. The company plans to charge merchants 2.7%, compared to Square's 2.75%.

Square was developed by Twitter co-founder Jack Dorsey. It too can be plugged into smartphones and has already helped merchants process $4 billion worth of sales to date.

Tencent, China's biggest Internet company, is trending after reporting a 15% rise in fourth-quarter profit, in line with analyst expectations, on growth in online games and social networking.

Net profit for the quarter was 2.54 billion yuan; analysts were expecting 2.58 billion yuan. Tencent saw its more mature titles like Crossfire and Dungeon & Fighter post slower gains the quarter, but its new title League of Legends soared, helping to lift performance in the segment.

Tencent President Martin Lau warned that investment could slow in 2012, potentially cutting profitability in the short-term.

Nokia (NOK - Get Report) is another popular search on reports it is working on its own tablet computer.

Nokia has commented as recently as December that it had no plans to create its own tablet. However, rumors say the company's design chief has confirmed the project, with reports also speculating that Nokia plans to have a tablet computer ready by June 2012. The device is rumored to use Microsoft Windows 8 software. Reports also say Nokia is working on technology that would reduce the amount of screen tapping needed to look for information and apps on the device.

It would be Nokia's first attempt at a large-screen tablet.

The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.

-- Written by Brittany Umar.
Brittany joined TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

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