iZettle and PayLeven battle it out in the European market – where partnerships with banks and payment networks are key.
Originally posted on Gigaom:
Square is starting to take its first steps outside the U.S., but it’s still a way off from entering the European market. So on mainland Europe, certainly, we’re still looking at a war between Square’s clones: Sweden’s iZettle and Germany’s Payleven.
Having recently scored an investment from American Express, iZettle – already present in the Nordic countries and the UK – has just inked major deals for its German push. The company is partnering with both DZ Bank and the giant telco Deutsche Telekom, the latter of which will be pushing iZettle’s mobile payments gadgets in stores across the country.
“Strategically, Germany is one of our core markets, and we are committed to serving everyone from individuals to small businesses here long term,” iZettle CEO Jacob de Geer said in a statement.
“Our ambition is to become the undisputed market leader in Germany and given the partnerships with DZ BANK and Deutsche Telekom we believe we are very well positioned.”