Swedish Mpos vendor iZettle poised for global expansion
14 June 2013 | 6177 views | 0
Ignacio Garcia, managing director, iZettle Spain discusses how the vendor increased Mpos adoption by 25% in Sweden and how the recent €5 million investment from Banco Santander will expedite its global expansion.
Garcia calls mobile point of sale the "biggest disruption in global payments in recent years."
Before iZettle launched, the Mpos market in Sweden was growing around 2.5% a year, he says. The Swedish vendor's entry in to the market has increased Mpos penetration by 25%, he adds.
While the nascent Mpos industry has tended to focus on a market long ignored by banks, micro-merchants and tradespeople, Santander's recent strategic investment in iZettle will not only increase the service offering throughout Europe, says Garcia, it will aid in the vendor's global expansion as well.
Garcia spoke to Finextra at MobeyDay 2013 in Barcelona earlier this week: