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Brexit and iZettle

Brexit will come into effect on 1 January 2021. If you’re wondering whether Brexit will affect your business, we’ve have gathered some information for our UK customers.

Will there be any changes to my iZettle account after Brexit?

The short answer is “Not at all”.  

Since 1 October 2020, iZettle switched over to PayPal’s banking license. Which means you can continue using iZettle seamlessly when Brexit happens. We’ll continue to support you as we always have done, and nothing will change in your day-to-day use of the iZettle service.

What are the legal details?

PayPal Europe is authorized to provide financial service by CSSF, the Luxembourg financial sector authority. When the UK is no longer part of the EU, the so-called Temporary Permissions Regime will start which allows financial institutions to continue servicing its customers in the UK. Under the Temporary Permissions Regime, PayPal Europe is deemed authorised and regulated by the Financial Conduct Authority.

The nature and extent of consumer protections may differ from those for firms based in the UK. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

Changes to our terms and conditions

As part of the Brexit preparations, we’ve made changes to our terms and conditions. The main changes include referring to local authorities, our updated website for the UK, and the complaints handling. If you want to learn more about how we handle complaints, check out our new page on Feedback & Complaints.

iZettle and PayPal joining forces 

Learn more about iZettle and PayPal joining forces here

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