iZettle and PayPal join forces
In 2018, iZettle became part of the PayPal family. Teaming up with another company is no small thing, but we share the same belief in the power of small businesses and we’re really excited about what we can achieve together.
iZettle will continue to run fast and innovate like before – just with more resources. Our aim is to continue to help small businesses thrive, and by combining with PayPal’s online capabilities and reach, we will offer small-business tools for your every need.
What does this mean for me?
You can keep enjoying the iZettle products you currently have, we’re not going anywhere. We’re really excited as the combination of iZettle and PayPal will provide great benefits for our users, as you’ll gain access to a wider range of tools to get paid, sell smarter and grow – in-store, online or on mobile. In the coming months and years, we will keep you posted on the amazing things we’re working on together, and how it will benefit you and your business.
Changes to our terms and conditions
Now that we’re a member of the PayPal family, we’re streamlining our regulatory service and therefore switching from our Swedish e-money licence issued by the Swedish Financial Supervisory Authority to PayPal’s licence as a credit institution issued by Luxembourg financial sector authority, the Commission de Surveillance du Secteur Financier. To do this, we are updating our terms and conditions whereby we will continue to provide the iZettle service through PayPal (Europe) S.à r.l. et Cie, S.C.A. (“PayPal Europe”) instead of through iZettle AB.
What are the main changes to our terms and conditions?
The main change to our terms and conditions is that the iZettle service will be provided by PayPal Europe as of the 1st of October 2020. But don’t worry, we’re still here to support you in the same way as we have in the past. Nothing will change in your day to day use of the iZettle service and we will continue to develop our service to better meet your needs.
As PayPal Europe is regulated by the Luxembourg financial sector authority, which is the equivalent to the Swedish Financial Supervisory Authority, the terms and conditions will be governed by the laws of Luxembourg. As Luxembourg is part of the EU and many of the rules and regulations applicable to iZettle AB today are based on EU law, this means that PayPal Europe is subject to corresponding legal and regulatory obligations and supervision as iZettle AB is today.
Another change to our terms and conditions is that we are preparing for the possibility to give you access to PayPal’s wider range of products. One example of this is the future possibility to connect your iZettle Account to a PayPal account. We will keep you updated on these possibilities as soon as they are available to you.
One final update is that we have incorporated the terms of our Gift Card Service into our Payment Terms and Conditions. This means that you will get quicker access to these features and do not need to accept separate terms and conditions before you can start using them. Please note that these services are subject to availability in your jurisdiction.
New data controller
PayPal Europe is a Luxembourgish company, and thereby - just as iZettle AB - subject to the General Data Protection Regulation (“GDPR”). This means that your personal data will have the same level of protection as before.