iZettle has launched a chip and PIN reader for small business owners in Europe to accept secure mobile payments.

Following a new partnership deal with Santander, its Spanish customers will receive a discount for the reader paid directly into their bank accounts. It is also available to businesses in the UK, Germany, Sweden, Norway and Finland from iZettle.com.

The wireless Bluetooth-enabled reader will cost £49 and works with smartphones and tablets along with a free iOS or Android app.

iZettle users pay no subscription, set up, monthly or minimum fees and are charged 2.75 per cent of each transaction amount. iZettle’s app and card readers work with all major credit cards, including Visa, MasterCard, American Express Maestro, Visa Electron and V Pay.

“Our vision from day one has been to simplify and democratise payments,” said Jacob de Geer, co-founder and CEO of iZettle. “Small businesses deserve a simpler, more mobile and affordable way to accept credit card payments, and our breadth of products and partnership with Santander go a long way towards making that happen.”

payleven recently introduced its £49 chip and PIN reader in the UK, Germany, Italy, the Netherlands and Poland, taking the same percentage of each transaction and promising no other hidden costs. As one of many people who often gets caught short in the local corner shop without any change, I am yet to see one being used on the ground, but very much welcome the mobile payments race getting underway.