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Banco Santander, iZettle ink strategic alliance for mobile payment

Social payments company iZettle has signed a partnership agreement with Banco Santander in Spain, to allow self employed professionals and micro traders to accept card payments using smartphones and tablets.

Commenting on the partnership, Banco Santander payments head Francisco Cué said the offering will help over one million self employed, professionals, and micro-companies to use their mobile infrastructure for payment processing.

Simultaneously, iZettle has launched and started shipping a Chip & PIN reader, which transforms mobile phones into card payment terminals.

Designed to connect wirelessly through Bluetooth, to a smartphone or tablet, the Chip & PIN reader works with iZettle’s free application that allows anybody to accept card payments and manage their business, using a smartphone or tablet.

iZettle’s application and card readers work with all major credit cards including Visa, MasterCard and American Express and do not charges subscription fee, set up fee, monthly or minimum fee.

The company has made available the reader in the US, Germany, Sweden, Norway and Finland as well.

Established in 1857, the retail and commercial bank had €1.388 trillion in managed funds, 102 million customers, 14,392 branches and 187,000 employees at the end of 2012.