Payleven Gets Visa-Approved For European Mobile Pay

Payleven is a Square-like mobile pay solution, and it might be possibly become a common sight in Europe.

Payleven has announced it has achieved the backing of payments giant Visa and is ready for a launch in Germany, Italy, the Netherlands, Poland and the U.K. this month.

Payleven is an unusual player in the mobile pay marketplace given that its chip-and-PIN smartphone dongle solution actually integrates with the secure chip in most European credit and debit cards, where other solutions--like Square--read the far less secure magnetic strip on the cards.

Visa is said to have stifled the European effort of Payleven competitor iZettle in a dispute over technology. While Square may be the best known modern mobile pay solution, it's remained a U.S.-centric experiment. Other competitors are primed to sweep across the larger market of Europe, where consumers are already more adapted to higher tech payment solutions like PIN security.

[Image: Flickr user neilt]

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