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]