iZettle Begins Global Expansion in Nordics

Free mobile payments app now in App Store for Denmark, Finland, Norway

Stockholm – February 28th 2012: iZettle, the social payments company, today announced its mobile payments app and mini chip-card reader for iPhone or iPad are now available in open beta in Denmark, Finland and Norway. During the beta phase iZettle is making 5,000 chip-card readers per country available free of charge.

iZettle’s iPhone and iPad app, with or without iZettle’s chip-card reader, lets anyone take credit or debit card payments anytime, anywhere. It’s simple to set up and use, and makes it easy to share purchases with friends on Facebook. (Check out the video here.)

“We were getting a payment solution to our kayak shop but traditional card terminals were too expensive for us, said Danish shop owner Flemming Møller. ”We looked for a more convenient option, and found iZettle”.

Added iZettle tester Tony Pihlajamäki in Finland: “Setting up my iZettle account was super easy. I’ve been using it for everything from selling fish to settling bar tabs with friends. It’s very cool. Very convenient.”

Unlike costly traditional point of sale card terminals, with iZettle there is no set up fee or monthly fee or minimum payment. Instead, each transaction using iZettle is charged 2.75 percent of the sale plus €0.15 ($0.25). Following the transactions, iZettle electronically deposits payments in the seller’s bank account the next business day.

“iZettle brings us all one step closer to a world beyond cash,” said MasterCard executive Mats Taraldsson, who heads market development for the Nordic and Baltic region. “Chip cards are the standard today in most of the world. In just six months iZettle has proven there’s real need and demand for a mobile chip card payment solution that is safe, simple and smart”. (Click here to view the MasterCard video about iZettle)

iZettle is the first service of its kind to be Europay, MasterCard and VISA (EMV) approved, and compliant with the Payment Card Industry Data Security Standard (PCI-DSS). No sensitive data is ever stored on the mobile device or iZettle reader, and all data traffic is encrypted.

“Since we introduced our app and the world’s first mini chip card reader last summer, iZettle has attracted 25,000 active users and has grown the point of sale market in Sweden by roughly 15 percent,” said Jacob de Geer, iZettle CEO and co-founder. “We estimate there are at least 20 million small businesses across Europe, not to mention all the individuals that could benefit from the iZettle service. The Nordics are just the first step of our global expansion scheduled for 2012.”