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Tuesday, October 23, 2012

American Express invests in iZettle mobile payment service

Mobile payment service iZettle says American Express has joined its list of financial backers. The latest funding round already included over £20 million from MasterCard and venture capital funds including Greylock Partners, Northzone and SEB Private Equity plus initial investors Creandum and Index Ventures.

iZettle will use the funding for product development and expansion into new markets. Its plug-in card reader and app can turn an iOS or Android device into a mobile credit card payment terminal for retailers and self-employed traders.

Werner Decker, Senior Vice President for Merchant Services Europe at American Express, said “The payments landscape is changing rapidly and we believe iZettle’s solution will play an important role in helping to further enable commerce - especially in small merchant segments that have historically relied on cash - by delivering a smart and convenient way for small businesses to accept consumer payments.”

We spoke to iZettle CEO Jacob de Geer at Mobile World Congress in February. You can listen to the interview (which starts after around 12 minutes) via the built-in audio player below or by downloading the MP3 file.
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Author: The Fonecast
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