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Amex joins MasterCard as iZettle Investor
October 23, 2012
Similar to Square in the U.S., iZettle is a Sweedish company that provides mobile card readers for small businesses. The key difference between the two companies is that iZettle has developed a mobile EMV card reader, which many international markets require.
Werner Decker, SVP, merchant services Europe, AmEx, says: "The payments landscape is changing rapidly and we believe iZettle's solution will play an important role in helping to further enable commerce - especially in small merchant segments that have historically relied on cash - by delivering a smart and convenient way for small businesses to accept consumer payments."
The major card networks seem to be in agreement that mobile card readers might be an important source of additional transactions. Both Visa and MasterCard have invested in iZettle, and Visa has aligned with Square.
In July, Visa cited security concerns and prohibited iZettle from processing the network’s card transactions.
to read more from Finextra.
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