iZettle, the Swedish payment start up, has announced today that it will be releasing a contactless card reader in June.
The company says the reader will be able to process Apple Pay, Google Wallet, Paypass, Paywave payments as well as traditional payment cards and cash. It will cost £79 and will be launched in the UK on 1st June. The company has also announced that it has launched its readers in France today.
The release of the reader shows iZettle are trying to stay ahead of the pack and aiming to capitalise on the rapidly increasing mobile payments transactions. And with Apple Pay rumoured to be released this year in the UK, and Samsung Pay almost certainly being launched in the US in the next few months, it’s certainly not a surprise.
According to a World Payments Report 2014, mobile payment transactions are expected to grow by as much as 60 per cent this year. E-payments were predicted to increase by 16 per cent. Furthermore, iZettle said that proximity payments more than tripled to 319 million transactions last year.
By continuing to accept cash and traditional cards, iZettle is clearly still aware of the staying power of older payment methods. In 2013, the total amount of payments made by payment cards added up to €2.2 trillion.
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