iZettle is Europe’s answer to Jack Dorsey’s Square mobile credit card payment system. It is now gearing up to launch this summer and has started shipping 3,000 iZettle chip-card readers to selected businesses and individuals across the UK.
The main difference between the iZettle system and Jack Dorsey’s Square system is that Square offers a mag-stripe reader, rather than a chip-card reader. The video below shows iZettle in action and how it will provide UK and European businesses with a similar payment service to Square.
“Zettle is for everyone. For you and your friends. Your business and your band. Take payments anytime, anywhere. All you need is an iPhone, iPad or iPod touch and iZettle.”
iZettle’s Competitive Edge
Earlier this month, iZettle announced it was dropping its fixed €0.15 transaction fee, with users now only paying a 2.75% charge on sales for most major credit cards, with the exception of American Express, which is now 2.95%. This move makes iZettle more competitive in the market, especially for small businesses and individual entrepreneurs who are looking to minimize transaction costs.
The iZettle system is designed to be user-friendly and accessible. All you need is an iPhone, iPad, or iPod touch to start accepting payments. This ease of use is a significant advantage for small businesses, pop-up shops, and even musicians who need to take payments on the go. The chip-card reader is also more secure than the traditional mag-stripe reader, offering an added layer of protection against fraud.
Expanding Market Reach
iZettle’s decision to ship 3,000 card readers to UK testers is a strategic move to gather feedback and make necessary adjustments before the full-scale launch. This approach ensures that any potential issues are addressed, and the product is fine-tuned to meet the needs of its users. The feedback from these testers will be invaluable in shaping the final product and ensuring its success in the competitive mobile payment market.
Moreover, iZettle’s entry into the UK market is just the beginning. The company has plans to expand its reach across Europe, providing a robust alternative to Square. This expansion is crucial as it allows iZettle to tap into a larger customer base and increase its market share. The European market is ripe for innovation in mobile payments, and iZettle is well-positioned to capitalize on this opportunity.
In addition to its competitive pricing and user-friendly design, iZettle also offers robust customer support and a comprehensive suite of tools to help businesses manage their transactions. From detailed analytics to inventory management, iZettle provides everything a business needs to streamline its operations and improve efficiency.
As the mobile payment landscape continues to evolve, iZettle is poised to be a major player. Its innovative approach, combined with its commitment to customer satisfaction, makes it a formidable competitor to Square and other mobile payment systems. With its upcoming launch and plans for expansion, iZettle is set to revolutionize the way businesses handle transactions in Europe and beyond.
Source: TNW
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