Swedish version of Square soon in pilot

iZettle is a Swedish startup with a solution inspired by Square (“the mobile mag stripe reader” in your mobile = iPhone). The main difference is that iZettle reads the chip on the credit card entered into a addon to your iPhone.

I don’t see this as a mobile payment solution, more as another variant of a mobile payment terminal that has been around for years (terminal with gprs). What I also don’t understand is that cc companies is allowing the lower security using this terminal, “chip & pin” but no need to enter pin, just sign on the screen…

Article in Swedish here.

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