iZettle’s Move To Chip And PIN

What's Next In Payments®
5:26 PM EDT February 20th, 2013

iZettle has announced the launch of a new mobile Chip & PIN reader. The move has been motivated by earlier troubles with Visa, which forced the company to stop payments altogether for a few months in 2012.

The new Chip & PIN reader connects wirelessly, via Bluetooth, to a smartphone or tablet. Like the iZettle Chip & Signature reader, that plugs into a phone or tablet, the new device works with iZettle’s free app that lets anyone selling anything use a smartphone or tablet to accept card payments and manage their business.

Card readers can be purchased at iZettle.com. The new Chip & PIN reader comes to the price of €49. iZettle merchants pay no subscription, set up fee, monthly or minimum fee, and only pay 2.75% of each transaction amount. iZettle’s app and card readers work with all major credit cards, including Visa, MasterCard and American Express.

At the same time as the new launch, Banco Santander and iZettle, announced a partnership agreement, making Banco Santander the first bank in Spain to enable self employed professionals and micro merchants to accept card payments with smartphones and tablets. Banco Santander customers in Spain will receive a substantial discount for card readers that will be paid into their bank accounts after purchase.

Both the news of the new Chip & PIN reader and the partnership were applauded by MasterCard. Pilar Aurrecoechea, General Manager at MasterCard, Spain and Portugal added: “We applaud and support iZettle’s leadership in bringing new types of safe and affordable chip card acceptance solutions to small businesses across Europe not previously taking card payments. The results of iZettle’s partnership with Banco Santander are exactly what’s needed to help struggling small merchants worldwide.”

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