Mobile payment provider iZettle is introducing a free Chip & PIN card reader. The device will plug into a smartphone or tablet, enabling the user to take payments via credit card or debit card.
iZettle’s free ‘Lite’ reader is being launched to businesses in the UK, Sweden, Norway, Denmark, Finland, Spain, Germany and the Netherlands. It’ll be offered alongside the current ‘Pro’ card reader, which costs £49 excl. VAT, connects via Bluetooth and has a built-in display.
Both readers are compatible with MasterCard, Visa and American Express cards. There are no set-up fees; users are charged a transaction fee of 2.75%, with a decreasing rate for higher sales volumes.
Currently the Lite device is only being offered to businesses, while the Pro is also available to individuals.
Jacob de Geer, co-founder and CEO of iZettle, said “This is one of the boldest moves we have ever made. Four years ago we upended the market with the world’s first mini chip card reader. We’re now embarking on the next step in our journey, with yet another ground-breaking offer that will cement our position as Europe’s leading mobile payments company. The Lite is a first of its kind. Not only will it tear down the barriers small merchants face when setting up their businesses, it also raises the stakes for Europe’s payments industry.”
iZettle more than doubled its transaction volumes in 2014, currently handling €2 billion of transactions per year.
We spoke to iZettle CEO Jacob de Geer at Mobile World Congress 2012. You can listen to the interview (which starts after around 12 minutes) via the built-in audio player below.
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