Last week iZettle reached a much anticipated goal: Its dongle-based card processing systems is finally compatible with Android Devices. This service will be available first in Sweden, where the company is based and is expected to be extended to more countries.
GigaOm.com points out a few interesting comparisons between iZettle and its North American rival Square.
For example, while Square has paved the way for other business and added Android support earlier this year, it has certainly avoided the “more complicated and more technically demanding international markets.” While Square is limited to one single huge market, iZettle has raised around $31mmillion to expand across many markets. In addition, to date, iZettle has some very important relationships in the Nordic region of Europe where it started, and understands it better than Square.
Although Square’s deal with Starbucks could pave the way for an International rollout, “each day Square waits, its rival moves forward a little,” GigaOm.com noted.
Finally Visa has invested in Square for mobile payments while iZettle’s issue with Visa is still unresolved. Last month, Visa Europe revoked support of iZettle in Denmark, Finland and Norway because the mobile payment acceptance tool authorizes payments using a signature instead of a PIN.
Industry experts argue that Square should have acquired iZettle in the summer of 2011 when there was a lot of investor hype around Square. If the Silicon Valley company wanted to make a move today, the competition would be stiff and the price tag on iZettle a lot higher. What do you think? Can Square enter the European Markets without having to purchase iZettle?
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