Banco Santander Makes Strategic Investment in iZettle
11. juni 2013
Eurozone’s largest bank puts more than €5 million into Europe’s No.1 service for securely accepting card payments on tablets and smartphones
STOCKHOLM – June 11, 2013: iZettle and Banco Santander, the Eurozone’s largest bank by market capitalization, announced today that Banco Santander is making a strategic investment of more than €5 million in the Swedish social payments company making credit card acceptance possible for small business owners throughout Europe.
“Millions of small business owners and professionals in the markets where we operate need an alternative to conventional credit card terminals, and simple software to manage and analyze their transactions,” said Ramón Tellaeche, head of Santander Cards at Banco Santander. “We are strongly committed to innovation that satisfies emerging needs of our customers, we believe iZettle’s innovative mobile technologies will be crucial to those merchants’ near and long term success.”
Banco Santander is the largest financial group in Spain and Latin America with significant positions in the United Kingdom, Portugal, Germany, Poland and the U.S.
“We want to bring iZettle to the world, and to do that we must have strategic partnerships with the world’s leading banks,” said Jacob de Geer, co-founder and CEO of iZettle. “Our relationship with Banco Santander is central to our transition from local to multinational services.”
iZettle takes just minutes to set up, and works with all major payment cards. With iZettle there’s no subscription, set up fee, monthly fee or minimum. Instead, iZettle merchants pay a percentage of each transaction. iZettle then electronically deposits payments in the seller’s bank account.
Sweden’s Financial Supervisory Authority regulates iZettle, whose services are EMV (Europay, MasterCard and Visa) approved and compliant with the Payment Card Industry Data Security Standard (PCI DSS).
iZettle’s app for accepting credit card payments is now available for download free of charge from Apple’s App Store or Google Play in the U.K., Spain, Germany, Sweden, Denmark, Norway and Finland and coming soon to more countries. iZettle’s Chip & PIN and Chip & Signature card readers can be purchased at iZettle.com.
For tracking and analyzing sales, iZettle recently updated its free business management software with easy-to-read graphs that can be sorted by year, month or week. The software’s new metric boxes display revenue, top selling products, transactions, average payment volume and returning customers, to identify a business’ most loyal customers.
About Banco Santander Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone by market capitalization. Founded in 1857, Santander had EUR 1.388 trillion in managed funds, 102 million customers, 14,392 branches – more than any other international bank – and 187,000 employees at the close of 2012. It is the largest financial group in Spain and Latin America. It also has significant positions in the United Kingdom, Portugal, Germany, Poland and the northeast United States. Santander had a pre-provision profit of EUR 23.559 billion in 2012, an increase of 2% from the previous year.