IZettle launches in Brazil

Source: iZettle

IZettle, the social payments company allowing anyone to take card payments with their smartphone or tablet, today announced that it launches its services in Brazil.

The news comes as a result of the company's global partnership with Banco Santander.

Starting today, individuals and small businesses all around Brazil can take card payments with their Apple and Android smartphones and tablets by signing up at www.izettle.com.br and order the iZettle Chip & Signature reader. The card reader comes at R$ 99 but will be available for free in Brazil for anyone who signs up before September 30th 2013.

Cassius Schymura, Payments Services Director at Banco Santander do Brazil, reinforces the importance of the partnership between Banco Santander do Brasil and iZettle. "The launch of a solution which offers secure and flexible mobile transactions with cards is something new in the country and will allow thousands of small entrepreneurs to have access to a service previously reserved to larger businesses," said Cassius. "Our choice of partnering with iZettle is a true testament to the focus of Banco Santander to offering the best and most innovative solutions to one of our key customer groups – small and medium businesses. For Banco Santander, the partnership means we can now, as the exclusive banking partner, offer SMEs a range of competitive products and services to support them in further developing their business."

"Brazil is the world's second largest card payment market, and the opportunity for iZettle to equip individuals and small businesses with card payment acceptance is immense," said Magnus Nilsson iZettle Co-founder and Chairman of iZettle do Brasil. "99.7% of companies in Brazil are SMEs and micro merchants and we want to empower them with a cost-effective way to take payments other than cash, so they never have to miss out on a sale again. From sole traders in remote towns, to micro merchants in major cities, this is the start of a big change for Brazil, where accepting card payments for this group will be easier and more affordable than ever. We are extremely pleased to be partnering with Bannco Santander and in particular we find the attitude to and interest in new technology and innovation to be exactly what we have been looking for in a partner. Together we will move mountains."

With iZettle there's no subscription fee, set up fee, monthly fee or minimum. Instead, iZettle merchants in Brazil pay 5.75% of each transaction. iZettle's app for taking card payments is available for download free of charge from Apple's App Store or Google Play.

iZettle, whose services are approved by EMV, a global standard for interoperability, and compliant with the Payment Card Industry Data Security Standard (PCI DSS) is, in Europe, regulated by Sweden's Financial Supervisory Authority. In Brazil, iZettle is subject to the Brazilian regulatory requirements as it applies to payment facilitators, card networks and acquiring banks. In essence, the iZettle solution protects the cardholder against the unauthorized usage of card data and also protects the merchant against the usage of skimmed card becuase it validates the chip.

"iZettle and Banco Santander are helping bring MasterCard's vision to life: a world without cash. The partnership combines innovation and convenience to meet needs of merchants with low value or less frequent transactions who still do not accept card payments," says Horst Muller, Vice President of Acceptance and Retail Relationships at MasterCard, Brazil and South America.

"The launch of iZettle in Brazil expands payment options for consumers and simplifies card acceptance for small merchants," said Jose Vasquez-Mendez, Vice President, Latin America & Caribbean Merchant Services, American Express. "As the payments landscape continues to evolve, iZettle's solution allows merchants to seamlessly migrate from cash to credit card payments, and opens the door for other small merchants to engage in commerce."

The iZettle service includes free business management software for tracking and analyzing sales, has easy-to-read graphs that can be sorted by year, month or week. The software's metric boxes display revenue, top selling products, transactions, average payment volume and returning customers.

Brazil is iZettle's second move beyond Europe, and comes after its recent launch in Mexico. Former Volvo Latin America CEO, Anders Norinder, will lead iZettle's Brazilian operations as Managing Director. 

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