iZettle, a device that allows small traders to take credit

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iZettle, a device that allows small traders to take credit

Postby ToneWood » Wed Nov 07, 2012 2:46 pm

I came across an article on this today. It concerns a system to allow small merchants to accept credit card payments. It seemed like it might be relevant to some forum members as I noticed that iPads were quite popular among stall holders at Art in Action this year and also because the system is Swedish and used by "700 blacksmiths" (good to hear there are so many Swedish blacksmiths in business :)).

http://www.bbc.co.uk/news/technology-20226894

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Zettle was launched in Sweden a year ago, and according to the co-founder Jacob de Geer, it is now used by more than 75,000 small businesses and individuals in six countries. In Sweden, he told journalists at the launch, 700 blacksmiths are using the device. "It's bringing new merchants to the table. My ambition is to democratise card payments."


The 2.75% transaction charge seems too high to me but I gather it's not that unusual for merchants to pay rates over 2% :(. The credit card companies don't seem to do much for such a large cut though.

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Re: iZettle, a device that allows small traders to take cred

Postby Darren » Wed Nov 07, 2012 8:39 pm

If its the difference between a sale not a sale I'll take the 2%
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Re: iZettle, a device that allows small traders to take cred

Postby ToneWood » Wed Nov 07, 2012 8:53 pm

2.75% even. They might charge you for a merchant account too. The problem, as I see it, is that the various expenses can chip away until there is no profit. For example, if you are also paying for a stand, fuel & vehicle expenses to & from a show, VAT, wireless internet, tools, materials, time to make, time to sell, Bodgers' insurance (good value I understand ;)),...
Last edited by ToneWood on Fri Nov 09, 2012 8:49 pm, edited 1 time in total.
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Re: iZettle, a device that allows small traders to take cred

Postby Darren » Fri Nov 09, 2012 3:16 pm

I already have a iPhone which this device clips into. Yes there is extra costs and I wonder how much the device costs. Either you add it into the price or just out up with a lost sale?
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Re: iZettle, a device that allows small traders to take cred

Postby ToneWood » Fri Nov 09, 2012 9:00 pm

I think at Art in Action they had some sort of centralized pay area/service that dealt with credit card purchases on behalf of store holders. That seems like it could potentiall be a simple, cost-effective way to allow small craft businesses to accept payment by credit/debit card. Sorry to be a bit vague on the details - Robin Wood might know more - but we bought mainly food & drink and a few small items, for which we used cash (we planned ahead, assuming that credit cards might not be accepted by crafts people).

BTW Debit cards are usually much better for the merchant - there is usually a small fixed charge for Debit transaction (something like 20p/20 cents?) whereas Credit cards usually take a fixed percentage of the sale price (e.g. 1.65-2.75%) - and possibly even a transaction charge too. For the customer, I guess Credit card offers greater consumer protection (more so in the USA than the UK) than Debit card, circular credit and sometimes fringe benefits (more so in the USA than in the UK).
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Alternatively: Square

Postby ToneWood » Thu Apr 25, 2013 9:09 am

Free credit card reader for iPhone/Android and "2.75% per swipe, no additional fees, and next day deposits" (supposedly better rate than Paypal Invoices).
Nice, simple looking website too (kudos): https://squareup.com/
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Re: iZettle, a device that allows small traders to take cred

Postby ToneWood » Mon Jan 27, 2014 4:48 pm

Getting smaller, on BBC today:
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