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Banco Santander and iZettle Form Partnership

20 fevrier 2013

Banco Santander becomes the first bank in Spain to enable professionals and small businesses to take card payments with their mobile devices.
Simultaneously, iZettle launches – and starts shipping – a Chip & PIN reader.

MADRID – February 20, 2013 – Banco Santander and iZettle, the social payments company, today 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.”

iZettle also launches today its Chip & PIN reader, designed for businesses that demand fast, secure and hassle free card payments with maximum flexibility. The Chip & PIN reader connects wirelessly, via Bluetooth, to a smartphone or tablet. Like the iZettle Chip & Signature reader, that plugs into a phone or tablet, the new device works with iZettle’s free app that lets anyone selling anything use a smartphone or tablet to accept card payments and manage their business.

“Our vision from day one has been to simplify and democratise payments,” said Jacob de Geer, co-founder and CEO of iZettle. “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.” Getting started with iZettle only takes a few minutes and is done entirely online. iZettle merchants pay no subscription, set up fee, monthly or minimum fee, and only pay 2.75% of each transaction amount. iZettle’s app and card readers work with all major credit cards, including Visa, MasterCard and American Express.

Pilar Aurrecoechea, General Manager at MasterCard, Spain and Portugal added: “We applaud and support iZettle’s leadership in bringing new types of safe and affordable chip card acceptance solutions to small businesses across Europe not previously taking card payments. The results of iZettle’s partnership with Banco Santander are exactly what’s needed to help struggling small merchants worldwide.”

The Financial Supervisory Authority regulates iZettle and its services, which are EMV (Europay, MasterCard and Visa) approved and compliant with the Payment Card Industry Data Security Standard (PCI DSS).

Price and Availability
iZettle’s card readers can be purchased at iZettle.com. The new Chip & PIN reader comes to the price of €49. Banco Santander customers in Spain will receive a substantial discount for card readers that will be paid into their bank accounts after purchase.

In addition to Spain, the Chip & PIN reader is now available in the United Kingdom, Germany, Sweden, Norway and Finland. The free iZettle app can be downloaded from Apple´s App Store or from Google Play.

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.

About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.