iZettle launches chip and pin mobile credit card payments device

iZettle has launched a chip and pin device to enable business owners to accept credit and debit card payments through their smart phones on the go.

Connecting wirelessly to smart phones and tablets via Bluetooth, the new device will complement the company’s existing chip and sign product, which was launched in November last year.

The launch of the new product, available for £49, will mean that retailers and service providers can take Visa payments directly through the mobile payment device. Visa Europe’s policy decision announced in August 2012 meant that iZettle’s chip and sign device could not accept Visa payments directly and instead customers had to carry out the transaction on a secure site via their own smart phone or tablet.

As with the previous device, the chip and pin product from iZettle will also enable merchants to accept payments on the go from MasterCard, American Express and Diners Club cards, at a cost of 2.75% per transaction.

iZettle is among a number of firms to have manufactured and released a mobile payments device in the past year. The news comes as chip and sign payment device producer SumUp announces a deal with American Express, which will see the firm enabling merchants to accept payments from customers with American Express cards.