For over a year now, cafes and other small businesses in the US have increasingly been using a new mobile payment system called Square. It’s a little cube, about the size of a sugar cube, that plugs into a smartphone audio jack. Just open up the application on the phone, and boom – the barista can accept credit cards by swiping the magnetic stripe through the little slit on the cube. But in Europe, nearly all credit cards use more secure chips instead of magnetic stripes. So, a Stockholm-based startup called iZettle is planning on testing its new iPhone-based credit card reader across Sweden later this month. If successful, the company hopes to expand to the rest of Europe, too. Read More
