Which of these smartphone card readers will win the mobile payments race?

The mobile payment industry is constantly evolving and extremely complex.

NFC gains a lot of attention largely thanks to the fact that Visa has thrown its weight behind the technology. However, as yet, it has failed to take off because access to NFC enabled devices is limited and consumers are still largely sceptical.

In the short-term, it seems likely that mobile card readers will prove to be more popular with merchants and consumers.

Sweden’s iZettle launches mobile card reader in the UK

There’s been much excitement in the world of mobile payments around Square, a credit card reader that allows merchants to take payments using an iPad or iPhone.

More than 1m businesses have signed up to use the device in the US, but it still isn’t available in the UK.

However, as of this morning UK retailers can apply to join the beta phase for iZettle, a mobile card reader backed by Carphone Warehouse founder Charles Dunstone.

It already has 50,000 users in the Nordic market since launching in its native Sweden last September, increasing the number of point of sales terminals on the region by 10%.