Swedish mobile point-of-sale start-up iZettle has partnered with UnionPay International, a global subsidiary of China's only domestic bank card organisation UnionPay, to boost its card acceptance for SMEs in European market.
As per terms of the agreement, iZettle card reader known as iZettle Reader will accept UnionPay debit and credit cards across its ten markets in Europe.
The partnership is expected to enable millions of Chinese visiting Europe to pay for goods and services using their UnionPay cards with iZettle merchants.
The transaction fee with UnionPay cards will be similar to the all other supported cards such as American Express, Visa, MasterCard, V Pay, Electron, Diners Club, JCB and Maestro.
Commenting on the agreement, iZettle chief marketing officer Johan Bendz said: “This partnership will help the hundreds of thousands of business owners that use iZettle sell more by accepting more payment alternatives.
“Now, our merchants no longer need to turn away business from the millions of Chinese that visit Europe each year.”