Interesting news. This means they basically have the market sown up in the UK, as most merchants will either use an iZettle reader or a PayPal one. I know a lot of people in the USA use Square, but I haven’t seen as many of those over here.
I have a PayPal Here card reader attached to my personal PayPal account. I wonder if this will bring down the prices at PayPal Here or raise the prices at iZettle (iZettle are currently losing money I believe).
I wonder if iZettle will make PayPal pay via iZettle?
Probably not great for retailers to see this market re-consolidate. Can’t see it helping with prices.
The other one I see around here is SumUp, but nowhere near as many as iZettle (which is pretty much all I see outside of the traditional acquirers or integrated POS systems).
Oh god. I had to give up on PayPal Here (despite a much better rate for charities) and went with iZettle for its vastly improved user and customer experience. The Here reader would never stay connected and the PayPal reports interface is just sooooo unworkable. I bet I know which interface and tech they will prefer to focus on.
Bit of a brain dump but here goes; so it doesn’t make sense in terms of the current business plan, but is there an opportunity here further down the line for Monzo to enter this space by using their in house payment processing back end? Sweating your assets and all that? Scope for a spin off, potentially vibes nicely into business banking as a bit more of an integrated service, for small businesses keen to reduce costs? Independents, retail in particular needs all the help they can get currently, and Monzo could again lead this ‘fair and transparent’ charge.