Commenting on the investment, Banco Santander cards head Ramón Tellaeche said that millions of small business owners and professionals need an alternative to conventional credit card terminals, and simple software to manage and analyze their transactions.
The bank believes that iZettle’s mobile technologies will be important to merchants’ near and long-term success and will satisfy emerging needs of its customers, Tellaeche added.
Easy to set up, iZettle works with all major payment cards and does not require any subscription fee, set up fee, monthly fee or minimum deposit.
Regulated by Sweden’s Financial Supervisory Authority, iZettle’s software for accepting credit card payments is now available for download free of charge in the UK, Spain, Germany, Sweden, Denmark, Norway and Finland.
Formed in 1857, Banco Santander had €1.388 trillion in managed funds, and serves 102 million customers, through 14,392 branches by employing 187,000 staff, at the close of 2012.
