In June Square announced that they are now processing $6 billion annually while VeriFone and Intuit compete with similar product offerings that allow merchants to accept and process credit card payments via their mobile device. Meanwhile iZettle, dubbed the Square of Europe, expands from Scandinavia to the UK now with over $16 million raised in funding as PayPal prepares to launch a similar product, called Here, in the U.S., Canada, Australia and Hong Kong. As many players compete to offer the ability to accept payments on-the-go and at reasonable rates despite low volume, retailers have benefitted with more options to accept credit cards outside of traditional merchant accounts.
