Banco Santander and iZettle, the social payments company, have announced a partnership agreement, making Banco Santander the first bank in Spain to enable self‑employed professionals and micro merchants to accept card payments with smartphones and tablets. This initiative falls within the bank’s Innova program that aims to lead innovation in the payments space.
“In Spain alone there are more than one million self-employed, professionals, and micro-companies that, due to the mobile nature of their business, need an option that is more flexible than conventional card terminals,” said Francisco Fernández Cué, Head of Payments at Banco Santander. “For Banco Santander it is a priority to help these businesses to grow and flourish. The bank is making use of new technologies and mobile devices to make its customers’ lives and work easier.”
Jacob de Geer, co-founder and CEO of iZettle said: “Small businesses deserve a simpler, more mobile and affordable way to accept credit card payments, and our breadth of products and partnership with Santander go a long way towards making that happen. After seeing a great demand and take up on our Chip & Signature solution, adding a Chip & PIN reader to our product offering enables us to extend our target group of individuals and micro merchants to include businesses with higher transaction volumes.”
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.