Social payments company iZettle has announced the UK launch of its first product, which enables small business owners to take card payments using their mobile phones.
Originally launched in Scandinavia in 2011, the mini-chip card reader plugs into iPhones, iPads and a range of Android smartphones to allow small business owners to accept debit and credit card payments.
iZettle joins a number of other players in the mobile payments hardware sphere. Its US competitor Square was launched by Twitter co-founder Jack Dorsey in 2010 and other companies including PayPal and Groupon have since followed suit.
Available exclusively at the 297 newly designed EE stores across the country and from EE’s telesales channel for £20, the device accepts Visa, MasterCard, American Express and Diners Club payments at a charge of 2.75% for each transaction.
In a survey of 1,029 trades people, EE, the digital communications company responsible for Orange and T-Mobile, revealed that the UK’s plumbers, electricians and builders are currently owed up to £283m by late or non-paying customers.
CEO and co-founder of iZettle Jacob de Geer is confident that the new product, which launches after six months of beta testing by 4,000 customers, will simplify the payment process for small businesses.
He said: “The beauty of iZettle is that it’s simple to use, totally secure and takes seconds for a transaction.
“Whether you are a cabbie, florist, tradesperson or a courier, iZettle gives you the flexibility to operate in both cash and cards.”