Payments startup iZettle makes chip & PIN card reader available for free

The free reader could entice more small European merchants to start accepting card payments

iZetlle's free reader is available in the U.K., Sweden, Norway, Denmark, Finland, Spain, Germany and the Netherlands

iZetlle's free reader is available in the U.K., Sweden, Norway, Denmark, Finland, Spain, Germany and the Netherlands

With a free Chip & PIN card reader, Swedish mobile payments company iZettle is lowering the threshold for small companies to start accepting card payments.

The Card Reader Lite, released Tuesday, connects to tablets or smartphones via an audio cable and it is meant to lower the cost barriers small merchants face when setting up their businesses, iZettle said.

Startup costs weren't that high to begin with though. Businesses only pay €49 (about US$55) for iZettle's wireless Bluetooth card reader, which it will continue to offer, and similar readers from competing services such as Payleven and SumUp cost only a little more at €79.

While consumers prefer card payments to cash, about 20 million European small businesses don't take card payments today, according to iZettle. Offering a free reader should help convince some of those merchants while raising the stakes on the European payments market, it added.

The new card reader is available in the U.K., Sweden, Norway, Denmark, Finland, Spain, Germany and the Netherlands.

Transaction fees start at 2.75 percent for companies with sales of up to €2,000 per month, dropping to 1.5 percent for companies handling over €28,000 of card payments per month. Payleven has a similar flexible fee, also starting at 2.75 percent for €2,000 worth of monthly transactions, dropping to 1.5 percent for over €12,000 in transactions per month.

iZettle, which handles about €2 billion worth of transactions annually, is also active in Brazil and Mexico.

Loek is Amsterdam Correspondent and covers online privacy, intellectual property, online payment issues as well as EU technology policy and regulation for the IDG News Service. Follow him on Twitter at @loekessers or email tips and comments to loek_essers@idg.com

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags retailmobilemobile applicationsfinanceindustry verticalsiZettle

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Loek Essers

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?