The Next Web
iZettle started operations last summer in Sweden, where the company is based, although in a very limited way. Now the service has just been opened to all the Swedish public and a jump to the rest of Europe is expected at the beginning of 2012 .
The main difference with Square is that, having been born as a European alternative, iZettle’s gagdet is adapted to payment with chip+pin code , which has already become standard in practically all countries on the continent. Payments take one day to reach the seller’s account and take 2.75% of each sale.
This commission is competitive with what they demand from the seller in a “traditional” card payment and, moreover, iZettle arrives when Square still has to grow in the USA and make the leap to Europe, so we will have to keep an eye on the future of the company.