iZettle continues in its partnership with Banco Santander with m-payments service offering in Mexico
Swedish payments start-up iZettle has expanded on its global partnership with Spanish bank Banco Santander by expanding beyond the Eurozone and into Latin America with the launch of mobile payments in the growing Mexican market place.
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The product offering will be two fold, including a card reader for Apple and Android devices and chip reader for vendors to accept payments with swipe and smart chip reading methods, in line with other data phone solutions. The ability to use existing hardware is appealing as it allows mobility of sales staff, and a more attractive method of payment, as most customers in Latin America traditionally use cash for onsite transactions.
The new services are in compliance with EMV (Europay, MasterCard and VISA) standards in addition to Payment Card Industry Data Security Standard (PCI-DSS), thus allowing ease of expansion into other regional markets where these standards are a must. All data transmitted through the devices are not stored onsite and is encrypted.