Mobile Payment Processor iZettle Cuts Prices Up to 45%
Mobile payment processor iZettle is launching a feature called Smart Rate, which reduces the percentage it takes of each transaction for qualifying merchants. The new feature cuts the rate that iZettle users have to pay on each transaction providing they process enough money each month. “The UK is our testbed for this new pricing model,” says iZettle CEO Jacob de Geer. “If it is successful, we’ll certainly be rolling out a similar initiative in other markets in due course.” Analysts say the pricing change could be a good one for the company, as offering a reward for businesses that are successful provides a level of incentive for a growing company to stick with their proven payments processor and forces the competition to improve its services. The company is introducing the new pricing plan on a sliding scale, with the standard fee of 2.75 percent falling to as low as 1.5 percent, depending on the gross amount of transactions in a month.
From “Mobile Payment Processor iZettle Takes on Rivals with a Price Slash of up to 45%”
The Next Web (07/24/13) Woods, Ben