01 November 2014

IZettle brings 'smart rate' fee model to Denmark

07 May 2014  |  1397 views  |  0 Source: iZettle

IZettle, Europe's number one provider of mobile payment services and apps, has unveiled Denmark as the latest country in Europe to operate its Smart Rate fee structure.

Smart Rate allows small business to pay as little as 1.5% transaction rate per sale, empowering small businesses to grow their business without being restricted by excessive financial fees and transactions costs.

The latest launch means Smart Rate is now live in six markets - UK, Sweden, Finland, Spain, Denmark and Norway and is the latest example of iZettle's commitment to growing with its customers and ensuring small businesses are equipped with the tools, services and support to help them thrive.

The Smart Rate pricing structure operates on a sliding scale with fees lowered automatically once customers reach a certain threshold (the exact amount various across each market). In July 2013 iZettle became the first mPOS provider in the UK to lower its transaction fees for small businesses who take over £2,000 a month.

The rate reduction applies to all cards and the Smart Rate fee system is automatically calculated by iZettle who send the cost savings back to the merchant at the end of every month.

Shane Swift, owner of Kitchen Kraft, a UK bespoke kitchen design company, comments: "Smart Rate has been a fantastic boost to our firm since it came in last year. We increasingly rely on card payments to serve our customers and every penny saved on transactions fees is a huge help in ensuring our firm prospers. The fact we don't have to process any paperwork and iZettle deposits the money made back on fees in the bank each month makes things even sweeter. We have saved thousands of pounds since last summer thanks to Smart Rate."

iZettle's hardware, free apps and complete point of sales solutions give small businesses access to a suite of tools that help them to manage payments, spot sales opportunities and, ultimately, grow their business.

"Small businesses are driving the economic recovery across Europe," says Jacob de Geer, co-founder and CEO at iZettle. "iZettle is determined to level the playing field for SMEs and ensure they have the tools and support to flourish. We see Smart Rate as another step in our journey to empower SMEs and democratise payments."

Sweden's Financial Supervisory Authority regulates iZettle, whose services are EMV (Europay, MasterCard and Visa) approved and compliant with the Payment Card Industry Data Security Standard (PCI DSS). 

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