May 17, 2012, 11:14 AM —
After 50,000 customers sign up in native Sweden, iZettle goes after the UK mobile payment market.
In America, we have Square, but that company hasn't jumped the pond yet. Swedish company iZettle has at least jumped the Channel with their just-announced beta test in the UK. Using a different, sturdier dongle plugged into the iPhone's multi-pin dock connector at the bottom rather than the headphone plug on the top like Square, iZettle is built for the European chip cards rather than the US swipe cards. They use a "chip and sign" process, not chip and PIN, and you sign the iPhone with your fingertip.
Like Square, iZettle will take 2.75 to 3.75 percent of each transaction amount as their fee, and is going after vendors with low volume that are new to credit cards. The invitation-only beta test in the UK accepts cards from MasterCard, American Express, and Diners Club. Venture funding for iZettle has totaled about $16.4 million so far.
I'd love to be in your beta program. Let me know.
Adrien Cusinberche on techcrunch.com
The legal agreement is a mess, they even warn that your data can be transferred to countries where privacy laws are not in par with european standards and data is stored for 7 years
anemic on news.ycombinator.com
How long before we just get credit card chips embedded in our arm and wave at the register?