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
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.