September 1, 2011

iZettle, Credit Card Payments on iPhone in Europe

With iZettle, accept credit card payments on the iPhone. The first country where iZettle can be used is Sweden. Later, iZettle will likely expand across Europe.

Like Square and GoPayment, iZettle provides a free card reader and a free app to users. Amounts charged with iZettle are deposited daily to your bank account.

A summary of fees for each system is below. Currently, iZettle can only be used in Sweden; iZettle fees are converted from SEK to USD for comparison.

GoPayment has the lowest fees, while Zettle is at the higher end.

Both Square and GoPayment are seeing phenomenal growth in the US as they meet a need for businesses and individuals to accept credit cards on the phone without complicated setups, fees or merchant accounts. Since Square and GoPayment are limited to the US currently, iZettle can take this time to expand in Europe.