Visa Europe has said that mobile POS service
iZettle does not meet its standards for acceptance devices,
preventing the company from processing Visa transactions.
In a blog post on iZettle’s website CEO Jacob
de Geer said “a policy decision by Visa Europe” left the company
with no choice but to suspend the acceptance of Visa cards in
Denmark, Finland and Norway.
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“Please know that we will continue to accept
MasterCard in addition to American Express cards,” the statement
read.
Speaking to Cards International Visa confirmed that the
prohibition extends to the UK, where iZettle launched in May
2012.
The manufacturer of iPhone-ready POS devices
attracted investment from MasterCard in June.
Visa Europe said it “has not yet agreed for
Visa cards to be accepted on the iZettle platform”. The network
explained that “it does not currently meet our standard acceptance
device requirements”, but did not elaborate on what iZettle was to
do to meet the standards going forward.
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By GlobalDataThe iZettle solution is not chip and PIN, but
is EMV compliant and meets PCI DSS standards.
Last month, MasterCard told Cards
International that developing a fully-EMV compliant chip & PIN
mobile POS device was currently not economically viable.
