iZettle has launched its mobile payments app and chip-card reader in Denmark, Finland and Norway. During the open beta, iZettle will hand out 5,000 free chip-card readers in these countries.
iZettle’s mobile payment solution enables anyone to accept card payments using their iPhone, iPad or iPod Touch. The card reader allows users to take payments from chip-enabled credit or debit cards. For each sale iZettle charges 2.75% of the transaction volume plus €0.15 (including bank fees). The service is EMV approved and compliant with the Payment Card Industry Data Security Standard.
The company has recently received €8.2 million in funding led by Index Ventures. We had the chance to talk to Jacob de Geer, the CEO and one of the co-founders of iZettle at the Mobile World Congress in Barcelona: “The Nordics are just the first step of our global expansion scheduled for 2012. Since we introduced our app and 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%.”