By now, it’s highly likely you will have seen the new style of card payment machines and POS systems in shops – they’re especially popular in independent businesses.
Debit and credit card transactions are now our preferred method of payment as consumers. We expect to be able to pay for anything on our card, whether that be our morning coffee or a new haircut. And, as a result, there are now many different card payment services companies jostling for a bigger share of this growing market.
In the past, smaller businesses were reluctant to carry credit and debit card payment machines due to high transactional costs, the cost of renting card reading machines, and because they would be tied into long contracts.
However, with the introduction of new competitors offering the next generation of contactless payment processing devices, more and more businesses accept plastic. iZettle is the UK’s largest suppliers of these stylish and functional machines and they offer their clients cheaper transaction fees and faster pay-outs.
iZettle is a Swedish financial technology company founded in 2010. They were purchased by PayPal in 2019. Leading with their portable chip and pin card reading device, iZettle offer a card acceptance service primarily focused on enabling small businesses to take payment by credit or debit card.
The name itself is a stylised combination from the expression of settling a debt and the company offers four key services to their customers: payments, point of sale, small business loans, and partner applications.
We’ve looked into the top providers in the current marketplace for contactless payment providers and would be happy to assist you make the best choice for your business. Our service is completely free – simply fill in the form at the top of the page.
Here, we discuss the benefits of choosing iZettle as your credit card reader provider – including the extra services their software can contribute to your growing company:
- An overview of iZettle, what it can offer your business
- iZettle’s card payment machines and POS system set up
- iZettle’s charges to you and financial procedures
- Available accessories and suitability for different merchants
|Machine name||Reader||Ocean Reader||POS|
|Accounting opening and set-up||£0|
|Postage and packing||£0|
|Cardholder not present payments||2.95% + 25p|
|Cost per chargeback||£10|
|Monthly sales targets||£0|
|Monthly subscription cost||No cost|
|Refunds||Free within 1-3 days, 1.69% thereafter|
|Settlement window||2-3 days|
|Transaction charge on payments||1.69% (any card)|
|PCI security||Yes – details here|
iZettle has been operating from its headquarters in Stockholm since it was founded in 2010.
Officially launching in Sweden in 2011, it has since expanded into other countries in Europe, the United Kingdom, and parts of South America. They offer a sleek, easy to use card reader machine and tablet software which enables smaller businesses to take card payments with the added bonus of managing stock and creating business sales and operational reports quickly and efficiently.
The card reader itself is used with either your smartphone or tablet in conjunction with the app. It is quick and easy to pair with minimal set up procedure which means you can be up and running taking payments in no time.
They offer two affordable and powerful POS systems in an app format. Those systems are
- iZettle Go – a point of sale app for any business with flexible payment methods, stock management and various receipt options, and
- iZettle Pro – all the benefits of Go with the additional specialised features necessary for food and drink vendors.
iZettle’s card payment machines
iZettle Reader card payment machine
Minimal and sleek in design, the iZettle Reader 2 is 11cm x 7cm x 2cm with a clear and functional layout and it’s cordless. Small enough to fit in your back pocket, the iZettle reader accepts credit, debit and contactless card payments alongside Google, Samsung and Google Pay.
It is compatible with all smartphones and tablets with internet and Bluetooth technology which are running with operating systems of Apple iOS 10/Android 4.4 or above.
It takes two minutes to switch the device on to make a payment and, on average, it takes 5 seconds to complete a contactless payment – double that for chip and pin. A full charge via Micro USB lasts 8 hours.
The iZettle Reader comes with a 12-month warranty and costs £29 + VAT. There is also a separate charging dock available for £39 + VAT.
Link to iZettle Reader card payment machine.
iZettle Ocean Reader and Dock set card payment machine
The iZettle Ocean Reader and Dock set card payment machine is a limited edition version of the standard iZettle Reader 2 and it costs £98 + VAT.
Created in conjunction with Oceanworks and aiming to remove and reuse ocean waste, both the Reader and Dock are made from 75% recycled plastic ropes and fishing nets found in the Baltic and North Seas. iZettle has committed to donating 20% of the sale price of the Ocean Reader to charities working on removing plastics from our oceans – a positive message you can share with customers in a time of heightened environmental concern.
The dock has its own in-built charger in the same beautiful waved effect teal colour – rest your iZettle Reader in it to keep it charged and ready for taking your next payment.
Your phone or tablet will need to have Bluetooth 4.0 (BLE) functionality in order to be able to connect it to your iZettle Ocean Reader.
iZettle’s card payment machine guarantees and warranties
Should your card reader break within the first 12 months of use, there is a warranty provided by iZettle. As you would expect, there are conditions to this which can be found in full here.
Providing the issue is a factory fault or material defect, you are entitled to your device either being repaired or refunded within 90 days of the complaint.
iZettle does not tie you into a contract. Should you wish to refund your card reader purchase, similar to goods purchased in shops and online, you have 30 days to return the item in its original packaging for your money back – no questions asked. You will, however, be expected to pay for return postage and packaging.
An added bonus for iZettle is they offer free shipping for their products. It’s also worth checking out their website for new customer deals as, at time of writing, they currently offer 50% off your first card reader when you open your first account.
The cards that iZettle accepts
The following cards are accepted by iZettle:
- American Express
- Diners Club
- Union Pay
Also available as a method of payment on iZettle:
- Apple Pay
- Samsung Pay
- Google Pay
iZettle offer two different packages to businesses wishing to take debit and credit card payments from their customers – the standard Go package and Go Plus. Below, we discuss the benefits of both.
No monthly charge – iZettle Go
The Go package is a free, standard package available in conjunction with the card reader. This plan is free to sign up to and it gives you the ability to take payments, manage stock, and run sales and analytical reports.
There is no monthly cost – you simply either pay 2.5% on invoices issued by the system or 1.75% as a card transaction fee. This would suit any number of businesses – from the early days of a start-up to more developed independent companies.
£29 monthly charge – iZettle Go Plus
For a more comprehensive package, the Go Plus option includes all the Go features as standard, alongside iZettle E-commerce – help to build an online shop and to take payments online.
It boasts aesthetically pleasing website design templates at no extra cost, and like the Go package, you are able to accept all major credit and debit cards at a rate of 2.5%.
If you want to streamline in-store and online transactions, this would be the better iZettle option to choose. iZettle even offer you the chance to try this platform for free for 14 days before you choose to commit.
What do iZettle charge when you take a payment?
When you are registered with iZettle and your personal and bank details provided, you can expect the money to be in your account within 1-2 working days. Total daily takings are paid into your account in a single sum.
As previously mentioned, iZettle’s Go account requires no monthly contract payment. Face-to-face transactions using the card reader necessitate a 1.75% fee.
An additional service available from iZettle is Cash Advance. Simply put, calculated by your average monthly card takings, iZettle is a business loan tailored to your business size and needs.
They take into consideration how much you will be able to repay between 12 and 18 months and offer capital at a fixed cost with total transparency – they require a minimum of 6% of the total daily cash advance (that’s when the payments you’ve taken are transferred to your bank account).
Your cash advance will be deducted automatically from your daily takings, should you be approved.
Please be aware that there are prerequisite requirements of being accepted for this service which can be found here.
What is the iZettle app like?
The iZettle Go app is a clearly formatted, user friendly system. The POS app includes all the necessary tools for merchants to get paid, be organised, and increase their sales. It is straightforward to use and accessible whenever you need to use it – meaning you never miss an order.
You are able to switch between users, get an overview of your business at a glance, retrieve sales receipts quickly, and track your sales in real time. By offering these clear insights into your company, the app helps in gauging insights into upcoming trends which allows for better business decision-making.
There is a comprehensive list of features available here however it may be useful to note iZettle includes the possibilities for an organised product library and inventory management, full transaction history and receipts, sales and customer data, security of backups, client support and much more.
Do iZettle do a POS system?
Setting up your POS system is straightforward but surprisingly customisable. Depending on your business and requirements, it is easy to navigate around the choice of products on offer. iZettle have ready-made store kits ranging from £189 to £599.
The basics of your POS system will include the iZettle Reader 2, a dock, and an iPad or tablet and stand. You are then able to add the optional extras which will be of most use to your company.
If you are using the POS for a store and want to keep to a budget, you needn’t stray far from the above – adding a receipt printer might be all you need – though that isn’t strictly necessary as the app allows for e-receipts directly to the customer.
iZettle recommend the specific kits for either food or drink or retail depending on the nature of your business. The main difference between the two systems is that a barcode scanner is included in the retail kit enabling you more precise stock control. With the hospitality app, for example, you can let customers split the bill in cafes.
On the official iZettle website, you are able to create your own kit from the ground-up using the configuration kit. Costing a fraction of the cost of traditional till systems, the equipment is all you need for intelligent payment solutions and comprehensive profit management.
There are a number of useful accessories available to complement the iZettle Reader and there are a range of supported printers, cash drawers and scanners. The only own brand product which you will need to invest in is the charging dock which conveniently charges your reader’s battery whilst connecting it to the till.
You have the choice of portable or stationary printers for receipts and there are numerous models available at various price points. Similarly, there are a number of cash drawers available which are compatible. If you require a separate barcode scanner, there is currently one model on offer which must be used with iOS system.
The iZettle barcode scanner is built into the app – you’ll need to use this with a smartphone with a rear facing camera. There is a step by step guide on using this element of the app on the iZettle website here.
iZettle – in summary
Retailers are already away of the way that business is changing as are customer expectations. Cash is on its way out and it is being replaced by card payments.
To stay connected to your customer, you need to be able to take payment on their terms. The number of companies accepting card payments has exploded over the past 5 years alone and systems such as iZettle are giving businesses what they need to compete very efficiently.
Gone are the days of ‘cash only’ even for small sums – customers want to pay for goods conveniently and quickly. From independent coffee shops to artists, fast food vans and pop-up craft stalls, local businesses need the equipment to process payments securely and quickly. This is now what the customer expects, requires and wants.
We’re able to offer you help in finding the best fit for your business. Simply fill out the above form with your details and we will put you in touch with up to 4 appropriate companies in able for you to move forward into the digital future – our service is completely free.