Payleven to offer Square clone

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European mobile payment service payleven says merchants can now pre-register for its Chip & PIN mobile payment technology.

“With Chip & PIN, we are the first company in the continental European market to offer a complete solution for all major debit and credit cards,” says payleven’s Konstantin Wolff. “This makes us the best possible partner for mobile payment, focusing on smaller and mobile professionals.”

The compact device links through Bluetooth to a smartphone or tablet, and lets customers enter a personal PIN on a small keypad to make mobile payments. In Germany and England, payleven transaction costs have been reduced to 2.75% per transaction. All other conditions remain the same – no monthly fee, no minimum charge, and no other costs. Merchants are only charged on a transaction basis and can get payleven’s Swipe & Sign card reader at no cost, and the payleven app also is free.