09 October 2015

IZettle arrives in Germany

30 October 2012  |  7429 views  |  0 iZettle1

Swedish start-up iZettle, which provides technology that turns mobile phones into payment terminals, has teamed up with DZ Bank and Deutsche Telekom to launch its service in Germany.

Germany becomes the sixth country targeted by iZettle, which claims more than 75,000 users in Sweden, Denmark, Finland, Norway, and the UK, where beta testing is currently in place ahead of a full roll out.

In Germany, Equens, part owned by DZ Bank, will process payments, while Deutsche Telekom - Europe's largest carrier - will distribute the iZettle chip-card reader in shops across the country from November.

Jacob de Geer, CEO, iZettle, says: "Strategically, Germany is one of our core markets, and we are committed to serving everyone from individuals to small businesses here long term. Our ambition is to become the undisputed market leader in Germany and given the partnerships with DZ Bank and Deutsche Telekom we believe we are very well positioned."

The firm is also handing out 25,000 free readers for iPhone or iPad during launch as it tries to gain a foothold on the home turf of rival Payleven.

Officially launched earlier this month, Payleven offers a similar system but its dongle includes a PIN pad. This means that it can accept Visa transactions, something that iZettle was blocked from doing in Denmark, Finland and Norway in July over security concerns.

Despite Visa's worries, iZettle has secured the backing of American Express, which recently joined an expanded series b funding round, joining fellow card giant MasterCard.

Meanwhile, on the horizon, threatening both companies, is industry leader Square, which finally took its first steps outside of the US last week when it arrived in Canada.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

24 October, 2012
23 October, 2012
03 October, 2012
01 October, 2012
25 September, 2012
30 July, 2012
23 July, 2012
15 June, 2012
27 February, 2012
19 August, 2011

Related company news


Related company information


Top topics

Most viewed Most shared
European Parliament rubberstamps Payment S...
6750 views comments | 36 tweets | 43 linkedin
Faster Payments eases access for challenge...
4896 views comments | 20 tweets | 25 linkedin
Chinese hackers breach LoopPay
4543 views comments | 8 tweets | 6 linkedin
Retail security bashing lobby group ABA ad...
4521 views comments | 17 tweets | 8 linkedin
From biometrics to one-time passcodes, Mas...
4342 views comments | 12 tweets | 18 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job