iZettle snaps up Scottish payments company

iZettle_Jacob de Geer

There’s more signs of consolidation in the crowded European payments space with news that Stockholm-based iZettle is buying a company called intelligentpos.

Intelligentpos is an Edinburgh-based cloud-based point of sale service for restaurants, bars and shops in the UK. The size of the deal has not been disclosed.

It was one of the first companies to start using iZettles software developer kit and the companies have been partners for three years.

Intelligentpos provides a range of tools to merchants beyond simply processing payments.

That includes table management, which lets restaurants have a birdseye view over all the tables in their venues. Another is a stock management service.

iZettle CEO and co-founder Jacob de Geer says this deal is part of the firm’s ambitions to widen its suite of services small businesses.

It’s part of the firm’s longer term plan to take the company beyond its original vision of giving underserved businesses access to payments technology and starting to become more of a one-stop shop for SME financial services.

He also says that the firm will be looking to make more acquisitions in the future as it moves to broaden its offering beyond its core mobile payments solution.

This all comes as San Francisco mobile payments giant Square makes more signs of preparing for a European launch.

“Five years ago, iZettle set out to empower small business owners with tools to help them accept card payments in an easy way – tools which were typically reserved for larger businesses, says de Geer.

The move comes a year after iZettle started offering merchants cash advances. In June iZettle also announced the launch of a new tool to help small and medium-shaped businesses talk to their customers.

At the time, iZettle also said it was forecasting €3bn in transaction volume for 2016.

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