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Swedish bank offers mobile card readers to small businesses


Sweden’s Nordea Bank is offering small business customers mini-chip card readers that can be attached to smartphones and tablets to make them into mobile credit card terminals.

Customers will be offered the iZettle devices – which normally costs SEK249 (US$38) – free of charge, with the app and card reader working with Visa, MasterCard, America Express and Diners Club.

Merchants using the technology are charged 2.75 percent for each transactions with payments electronically deposited in the merchant’s bank account.

No sensitive data is ever stored on the mobile device or card reader with all data traffic encrypted.

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