iZettle, a free iPhone app and a mini chip-card reader that lets anyone take card payments anytime, has made its payment application available for Swedish iPhone users, and now plans to distribute 2,000 card chip readers. It’s now possible for all Swedes who have an iPhone or iPad to take card payments. And it doesn’t matter whether you have your own business or not. iZettle comes for individuals and small businesses alike.
“Using the reader increases the security. Since we know the card has been inserted into the card reader we can verify its validity,” said Jacob de Geer, CEO at iZettle.
The company’s card reader has been approved by EMV (Europay, Mastercard, Visa), and is compatible with Payment Card Industry Data Security Standard (PCI-DSS). That means it is as secure as the card terminal at your local 7-Eleven, de Geer said.
IZettle charges users 2.75 percent of the price plus 1.50 Swedish kronor per transaction. The application is still in beta, and the company doesn’t have a firm date for the commercial launch yet.