The new pricing model involves progressively lower transaction fees for progressively higher sales volumes processed by customers via iZettle.
As an example provided by iZettle, a plumber taking GBP 5,000 per month pays 1.92 percent in transaction fees whereas a coffee shop that processes iZettle payments worth GBP 13,000 or above pays a 1.5 percent transaction fee. The rate reduction applies to all cards and the Smart Rate is automatically calculated by iZettle who send the cost savings back to the customer at the end of every month.
Sweden’s Financial Supervisory Authority regulates iZettle, whose services are EMV (Europay, MasterCard and Visa) approved and compliant with the Payment Card Industry Data Security Standard (PCI DSS).
In recent news, iZettle has unveiled that its chip and PIN as well as its chip and signature readers accept JCB cards throughout the UK, Germany, Sweden, Norway and Finland.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now