iZettle Celebrates 5th Birthday, Drops Transaction Fees

Mobile payment processor iZettle has reached its 5th birthday, and to celebrate they’re dropping the transaction fees for their biggest sellers to 1%, as well as announcing a new customer engagement feature for small businesses.

iZettle

The fees, which start at 2.75%, operate on a sliding scale down to 1% meaning the more you sell, the less fees you pay.

Founded over in Sweden in 2010, with their service going live in 2011, iZettle initially started out as a mobile payment processor via a dongle which allowed small businesses to accept card payments on an iPad or iPhone. It launched in 2012 in the UK.

Over their 5 years, they’ve added more services,such as small business lending, and is now also launching “Customer”, a data collection tool to help businesses keep in touch with their clients. They claim that this year they will handle transactions worth  €3 billion.

iZettle is also releasing a new and improved Card Reader in the coming weeks. Rolling out in Sweden first, with the rest of Europe following shortly on, the new and improved Chip & PIN reader accepts payments faster and comes packaged in a fresh new look.

Have you used iZettle in your business? If so, let us know what you think of it in the comments below.

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