Earlier today, I reported about the mobile phone payment service Square now clearing $11 million in payments every day. Well, iZettle is now looking for a slice of those mobile payments and has launched its very own payment service.
iZettle has been testing its new payment service in Sweden since August, and today iZettle co-founder and CEO Jacob de Geer announced that the payment gateway will now roll out further in its own country. A launch in “major markets” is planned to take place in early 2012. Watch a video after the jump to see iZettle in action.
iZettle’s Unique Selling Points
iZettle is designed to be accessible for everyone, whether you are an individual, a small business owner, or part of a band. The service allows users to take payments anytime and anywhere, provided they have an iPhone, iPad, or iPod touch. This flexibility makes it an attractive option for a wide range of users who need a reliable and portable payment solution.
iZettle 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.
How iZettle Works
The iZettle system is straightforward to use. Users simply need to download the iZettle app and connect the iZettle card reader to their device. The card reader is compact and easy to carry, making it ideal for on-the-go transactions. Once connected, users can start accepting payments from credit and debit cards. The app also provides features such as transaction history, sales analytics, and the ability to send digital receipts to customers.
One of the standout features of iZettle is its security. The service uses advanced encryption to ensure that all transactions are secure. This is crucial for both users and customers, as it helps to build trust and confidence in the payment system.
Comparing iZettle and Square
While Square has been a dominant player in the mobile payment space, iZettle offers some unique advantages that could make it a strong competitor. For instance, iZettle’s focus on the European market gives it a strategic edge in regions where Square has less presence. Additionally, iZettle’s user-friendly interface and robust security features make it an appealing choice for users who prioritize ease of use and safety.
Moreover, iZettle’s ability to integrate with various accounting and inventory management systems can be a significant advantage for small businesses. This integration helps streamline operations and provides a more comprehensive solution for managing sales and finances.
Future Prospects for iZettle
As iZettle prepares to expand into major markets in early 2012, the company is poised for significant growth. The increasing demand for mobile payment solutions, driven by the rise of e-commerce and the need for contactless payment options, presents a substantial opportunity for iZettle. By continuing to innovate and adapt to market needs, iZettle has the potential to become a leading player in the global mobile payment industry.
In conclusion, iZettle’s launch marks an exciting development in the mobile payment landscape. With its user-friendly design, robust security features, and strategic market focus, iZettle is well-positioned to capture a significant share of the mobile payment market. As the company continues to expand and evolve, it will be interesting to see how it competes with established players like Square and what new innovations it brings to the table.
Source: TNW
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