iZettle

 a device that allows small traders to take credit card payments, is arriving in the UK after a successful rollout in other markets.

But a failure by big payment firms to agree common standards on how we use these mobile money systems could mean the whole idea fails to fly.iZettle is a small card-reader that plugs into iPhones, iPads and a number of Android smartphones or tablets. It is designed for use by any small trader who can't afford the infrastructure needed to take credit card payments. You hand over your card to the stallholder - or plumber or window-cleaner - it is swiped through the device, and then you sign for your purchase. The merchant pays a commission of 2.75% a transaction, and the consumer gets to use their plastic rather than cash in new places.

iZettle was launched in Sweden a year ago, and according to the co-founder Jacob de Geer, it is now used by more than 75,000 small businesses and individuals in six countries. In Sweden, he told journalists at the launch, 700 blacksmiths are using the device. "It's bringing new merchants to the table. My ambition is to democratise card payments."