If we want to understand the credit card payments ecosystem in Europe, we need to understand what is iZettle and why is so important.
They come from Stockholm, the capital city of the most cashless society on the planet. A place where accepting credit cards is not an option, it’s a need, a society where everybody tries to avoid cash as much as possible.
iZettle grew strong in the country that saw them born and confidently expanded to the rest of Europe to become the pioneer company in its field, and today liberating the mobile payment charts in the UK, and the whole Europe along with other fintech companies like SumUp.
And it’s not really surprising news as we realize that cities are becoming more and more cash free. Although cash still represents the significant number of transactions, customers find it more and more convenient to use a cashless payment method and give them a choice is essential not to lose potential returning customers.
Loyverse and iZettle
Loyverse POS for iOS is wholly integrated with the iZettle reader to tackle the mission to accept credit card payments, and by doing so, satisfying the growing demand in the cashless ecosystem.
Let’s face reality, saying no to a customer that wants to use a credit card means lost sales. Thankfully, it only takes a few steps to start using the reader together with Loyverse POS.
With this integration, thousands of small business owners can ensure their growth as they add the possibility to accept credit cards to the already high variety of features and hardware integrations specially design for them that by Loyverse POS.
But let's get back to the real deal, to what everybody is really concerned about: the card reader, or better said, the iZettle reader. We have here a stylish device that allows merchants accept a broad range of credit and debit cards but also Apple Pay, Android Pay, and Samsung Pay.
iZettle is currently operating in many countries across Europe, and for each of them establishes different transaction fees, which is going to be the only cost for the merchant apart of the purchase of the reader.
We will take for example the 1,75 % fee they offer to their users in Great Britain, a very competitive fee which is pushing the company original of Stockholm to the top in popularity among British small businesses.
It’s especially convenient for those businesses that only take card payments occasionally and that find difficult to abide by the costs and conditions that signing a contract with a bank would require, for example.
Therefore those who haven’t been able to accept credit card payments up to now will find in iZettle the solution they were looking for. Its easy setup and the low costs give them no excuse not to give their business a boost by implementing the reader.
We can only be positive with the eruption of fintech companies like iZettle and also SumUp that are reshaping the concept of cashless payments and certainly helping hundreds of thousands of small business owners by making their lives much more comfortable.