iZettle credit card reader offers social networking, smart card compatibility

A lot of our European readers are disappointed that the iPhone add-on Square credit card reader won't work in their neck of the woods. Square might not, but Europeans will soon be able to accept credit card payments on their iPhones anyway thanks to the iZettle credit card reader.

The device itself works like Square, except you plug it in through the Dock connector and not the headphone jack, and instead of swiping credit cards, you insert them into the iZettle so their chip and pin can be read. For those in the US who might not be familiar with them, chip and pin credit cards, or smart cards, offer increased security over American "swipe" credit cards.

The iZettle also offers social network sharing so customers can post their purchases to Facebook or Twitter if they so choose. No word yet on the rate iZettle will charge per transaction, but the device itself will be free. iZettle will first launch in Sweden with other European countries to follow. You can see a video of iZettle in action on the next page.