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Friday, May 11, 2012

iZettle drops fixed transaction fee for mobile payments

It looks as though the market for mobile payments is getting increasingly competitive.

Stockholm-based iZettle, which lets iPhone and iPad users accept payment from ‘chip and PIN’ cards via a plug-in card reader, has just eliminated its fixed transaction fee of 15 Euro cents per transaction. Consumers taking payments on their iOS device now just pay 2.75% of MasterCard, Visa or Diners Club card transactions or 3.75% of American Express transactions.

The iZettle service is currently being used by more than 50,000 people across Sweden, Norway, Denmark and Finland; it’s expected to expand into the UK within the next few months.

Jacob de Geer, iZettle CEO and co-founder, said “iZettle was created to democratise payments - empower small business, service providers and individuals by taking the confusion and cost out of credit and debit chip-card processing. This is another step towards making card payments accessible and affordable for everyone, no matter the size of your business or your average transaction.”

We spoke to iZettle CEO Jacob de Geer at Mobile World Congress in February. You can listen to the interview (which starts after around 12 minutes) via the built-in audio player on our website or by downloading the MP3 file.
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Author: The Fonecast
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