iZettle – Taking payments has never been so easy

9th May 2018

iZettle was founded in Stockholm in 2010 and have attempted to revolutionise mobile payments with the first mini chip card reader and software for mobile devices. Their commerce platform for small businesses in Europe and Latin America provides tools to get paid, sell smarter and grow your business.

Some of the huge benefits are:

  • Automatically synchronises sales data into Xero, saving your time.
  • Deposits money into account within 1-2 business days
  • Contactless reader
  • Works via Bluetooth, WIFI or 3/4G
  • Sends receipts via email, text or to a printer if connected
  • Not limited to a contract
  • Can print out monthly sales reports from app
  • Customise when payments are received into bank account

Cost

There is no monthly fee on the initial package, however this can be upgraded to the ‘Plus’ for several extra benefits at a cost of £20 per month. An iZettle card reader is £59 + VAT and although isn’t mandatory, it would be highly recommended to purchase one. After this the cost is per transaction:

  • 1.75% Transaction Fee
  • 2.50% ‘Paying By Invoice’ Transaction Fee

Could this be a benefit to you?

Perhaps you would like to offer card payments/contactless payments to your customers? Or you would like to digitalise your sales and link this directly into your bookkeeping/VAT information system. The world of accountancy and bookkeeping is changing and you can now link from the point of sale all the way to your VAT returns/ final accounts.

We have many experts across Whiting & Partners that can help, advise and assist you in making the correct decisions on any apps to help your business grow, please contact your local office.

 



 
Other items in Blogs
 
Ian Piper
15th April 2021 2021 SME Growth: Revenge Spending?

As we pass the Covid-19’s first anniversary of its impact on our area’s economy, accounts of local SME’s are now starting to show part of the damage they have experienced through the lock-downs and associated restrictive measures. Thankfully, through Government financial help and the nimble footwork of businesses adapting to survive, the overall effect upon…

Read More »

Jaimie King
15th April 2021 Life after CBILS: The Recovery Loan Scheme

The government-backed Coronavirus Business Interruption Loan Scheme closed on 31st March to new applicants. Thankfully, the government has put in place further support for businesses, to follow this.   The Recovery Loan Scheme – Government backed loans, 3 months – up to 6 years depending on the product – Up to £10m, no cap on…

Read More »

Vanessa Pearson
26th March 2021 6 April: A Guide to Off-Payroll Working Tax Rules

The proposed new rules apply regarding who determines IR35 status for freelancers hired by medium and large companies are imminent. Our Brief Guide will help find out how this affects you and what you can do: A Brief Guide to Off-Payroll Working Blog entry by: Vanessa Pearson

Read More »

Ben Kilby
25th March 2021 I hear a rumour…

I hear a rumour that Lloyds Agricultural banking team based in Edinburgh has been disbanded and merged within other teams around the country. Although some within the new regional teams may have some knowledge of agriculture it has been suggested that customers felt that this was not important. It seems that the agricultural specialism within…

Read More »

Fiona Mann
24th March 2021 Making Tax Digital – the next steps

Our MTD Group have produced Issue 5 of their newsletter giving details of Making Tax Digital (MTD) as it continues.   So if you are unsure of what to do next, our newsletter has information and advice how to proceed.  Don’t delay however as penalties will be introduced if submission deadlines are missed.   W&P_MTD5…

Read More »

Amanda Newman
18th March 2021 Holding residential lettings in a company

There has been an ongoing debate since the government started to reduce tax relief available on mortgage interest that having property in a company could be more beneficial.   In order to transfer the property from personal ownership there could be a CGT charge depending on the difference in value from when you bought it…

Read More »