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iZettle, the maker of a Square-like accessory for accepting smart card payments while on the go, has officially opened its doors for business after successful completion of the test phase. Their key selling points are ease of use, and the lack of starting costs and fixed fees. Instead, iZettle takes 2.75% of a sale, plus a 0.16 EUR ($0.25) transaction fee, and then electronically deposits payments in the seller’s bank account the business day following a transaction.
Alongside the commercial launch, the company also announced new iPad application for businesses that will allow processing of multi-product sales in a single transaction. Once released, the app will enable merchants to create custom menus of products much like on expensive touch-screen POS systems in retail establishments around the world.
Sounds promising and in that sense we weren’t surprised iZettle managed to raise 8.2 million EUR (about $11.2 million) last month. Heck, in fewer than 90 days they helped grown the Swedish point-of-sale (POS) market by 5%. Impressive!
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
