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iZettle receives USD 6.6 mln funding from Banco Santander

Tuesday 11 June 2013 09:58 CET | News

Swedish social payments start-up iZettle has received a strategic investment of more than EUR 5 million (USD 6.6million) from Spanish financial institution Banco Santander, online media outlet techcrunch.com reports.

According to the source, Santander is set to offer small business customers in the UK a GBP 50 cash rebate when they buy an iZettle card reader to work with their mobile devices and tie these to their Santander bank accounts.

iZettle provides hardware and software that can be used by small merchants to turn smartphones and tablets into mobile credit-card terminals. iZettle’s services are compliant with EMV (Europay, MasterCard and VISA) standards as well as with the Payment Card Industry Data Security Standard (PCI-DSS). No sensitive data is stored on the mobile device or iZettle reader, and all data traffic is encrypted.

In recent news, iZettle has entered an agreement with RatedPeople.com, a UK-based online trade recommendation services provider.


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Keywords: iZettle, Banco Santander, Sweden, Spain
Categories: Payments & Commerce
Companies:
Countries: World
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Payments & Commerce






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