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November 5, 2013updated 04 Apr 2017 4:10pm

iZettle selects Elavon for payment processing in Europe

Swedish-based social payments company iZettle has selected Elavon, a unit of US Bancorp, to operate as its processor/acquirer and manage mobile payment transactions generated through its mobile card readers in Europe.

By Verdict Staff

Swedish-based social payments company iZettle has selected Elavon, a unit of US Bancorp, to operate as its processor/acquirer and manage mobile payment transactions generated through its mobile card readers in Europe.

Under the partnership, Elavon has completed the accreditation of iZettle’s chip-and-PIN card reader and suits the iZettle model of having an acquirer link to the distributing bank.

iZettle founder and chief operating officer, Magnus Nilsson was quoted by Payments Source as saying: "It is refreshing to find a company in this sector that is willing to completely adapt its processes to fit any business model."

Nilsson added that Elavon will provide greater flexibility for dealing with different markets, and offer tailored services based on individual needs.

iZettle is expecting to benefit from Elavon’s partnership with Santander worldwide in April this year, including in Mexico.

Elavon head of business development, Hannah Fitzsimons, said: "The small business community is exciting because it will bring new customers to card payments

"We believe mobile commerce will account for a significant portion of all future retail spend and we are looking forward to working with iZettle to provide a secure payment solution."

Additionally, Elavon has selected Realex Payments two months ago to expand its digital payment services for clients using the Elavon Payment Gateway in Europe.

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