- 1 iZettle Card Reader Reviewed
- 2 Cards Accepted By iZettle
- 3 How to Take Payments
- 4 iZettle Card Machine Security
- 5 iZettle Fees, Charges, and Prices
- 6 iZettle Transaction Fees Compared
- 7 iZettle FAQ
iZettle is a mobile point-of-sale (POS) machine provider – but unlike most POS providers, you don’t need a merchant account to take advantage of iZettle. That can make it easier for small businesses to accept payment on the go.
Is iZettle the right card payment machine for your business? Today, we’ll dive deep into the iZettle card reader and app to help you determine if this solution can work for your business.
To get started with iZettle today, sign up online.
iZettle Card Reader Reviewed
The iZettle card reader is the heart of iZettle’s service for small businesses. The card reader allows you to process credit and debit card payments instantly, as well as accept contactless payments from Apple Pay or Samsung Pay. Unlike other payment processing terminals, the iZettle card reader doesn’t require a merchant account to accept payments.
Let’s take a look at some of the features of iZettle’s 2019 card machine:
- Accepts chip, pin, and magnetic stripe credit and debit cards
- Accepts contactless Apple Pay and Samsung Pay payments
- Contactless payments are processed up to 25% faster than on any other payment processing terminals
- Instant approval of transactions less than £30
- Connects to your smartphone and iZettle app via Bluetooth
- Battery lasts up to 100 transactions or 8 hours (charges via USB or accessory dock in 1-2 hours)
- User-friendly design
Cards Accepted By iZettle
The iZettle machine accepts the following types of cards:
- American Express
- V pay
- Visa Electron
- Diners Club
- Apple Pay
The terminal will also accept contactless payments from any cards that include this feature.
How to Take Payments
Taking payments from customers with the iZettle card reader is simple:
- Connect the iZettle terminal to the iZettle app on your smartphone via Bluetooth
- Enter the total price to be charged in the iZettle app
- Have your customer use the card reader to take payment, inputting a PIN via the keypad if necessary
- Send a receipt via SMS or email, or print a receipt with a Bluetooth-connected printer
iZettle Card Machine Security
The iZettle card reader has several built-in security features to protect your business and your customers:
- Tamperproof design – data on the card reader will self-destruct if it is accessed without authorization
- All credit card data is encrypted
- Transaction protection covers up to £215 per month
- Terminal meets PCIPTS 4.1 standard
iZettle Fees, Charges, and Prices
What sets iZettle apart from most merchant account providers is that there is no contract and no monthly fees for taking card payments. That makes it one of the most economical options for payment processing in the UK today.
You can expect the following costs for using iZettle:
- iZettle smartphone app – Free
- iZettle card reader – £29 + VAT (one-time fee)
- Card transaction fee – 1.75% of each transaction
- Invoice transaction fee – 2.5% of each paid invoice
However, note that if you want to process e-commerce payments through iZettle in addition to physical card payments, you’ll need to pay a monthly fee and a higher commission rate:
- iZettle e-commerce plan (Go PLUS plan) – £29 per month
- E-commerce transaction fee – 2.5% of each transaction
Note that iZettle also offers customized pricing plans for small businesses that process more than £10,000 in transactions each month.
iZettle Transaction Fees Compared
Thanks to the low startup cost of using iZettle – just £29 for the card reader – the majority of what your business will pay to use iZettle is transaction fees. So, how do iZettle transaction fees compare to the rest of the UK’s payment processing industry?
For the most part, iZettle is quite favorable for small businesses. Whereas iZettle charges a flat 1.75% fee for credit card transactions, the industry average among merchant account providers is 2%. However, note that many merchant accounts only charge 0.75% for debit card transactions, so your business could be overpaying if you accept debit cards frequently.
The other benefit to using iZettle is that you don’t get charged for accounting for cash payments or for card payments that are declined. Your business also won’t be charged extra for American Express or foreign credit cards.
So, iZettle’s transaction fees are among the lowest in the industry for credit cards. Just beware if your business is processing a lot of debit card transactions, as these are relatively expensive with iZettle.
The iZettle smartphone and tablet app is how you control charges that are sent to the iZettle terminal as well as review your transaction history. The app is free and available in the Google Play store for Android devices and in the Apple App Store for iOS devices. Note that the app is required to use the iZettle terminal, and vice versa the terminal is required to use the app for processing payments.
To get started with the iZettle app, all you need to do is install it on your device and set up a business account. Once that’s set up, your business is ready to start taking payments through iZettle.
The iZettle app is a standard POS mobile app with a number of useful features:
- Connect to iZettle card reader via Bluetooth
- Send charges to iZettle card reader and process payments
- Process cash payments (no transaction fees)
- Create custom product libraries complete with product images
- Customise customer receipts and send via SMS or email
- Create multiple accounts for different employees
- Export transaction data to Excel
- Daily sale summaries and full transaction history
- Create custom reports to track transactions
- Backup all transaction data automatically
The app currently works with all iOS devices running iOS 8.2 or higher and with all Android devices running Android 4.1 or higher. Note that there is currently no interface for Windows devices.
iZettle Printer, Doc and Accessories
iZettle only requires the free app and the card reader to process credit card payments. However, the company also offers several accessories that can improve the versatility of your payment processing and give your business a more professional feel for customers.
Currently, iZettle offers the following accessories:
- Device stands: Stands are available for iPad 2, 3, 4, and Air models to keep your iPad secure while using the iZettle app.
- Card reader docks: Charging docks for your iZettle card reader keep it secure and the battery full while processing transactions. Can be bundled with a card reader for £45.
- Receipt printers: Printers for creating physical receipts, order tickets, and reports are available starting from £189. Wireless models connect to the iZettle app via Bluetooth.
- Barcode scanners: Connect to the iZettle app via Bluetooth and allow you to scan and charge for products via barcode. Currently only compatible with iOS app. Starting from £229.
- Cash drawer: Till for storing cash. Some models work with receipt printers to provide integrated solution for cash transactions. Starting from £99.
Many of these accessories can also be purchased in bundled store kits for a discounted price. Store kits start at £259.
iZettle Black Cab Bundle for London Taxis
iZettle’s Black Cab Bundle is an accessory bundle designed specifically for taxi services in the UK. The kit includes:
- iZettle card reader
- Wireless, battery-powered receipt printer
- Card reader and receipt printer car mounts
- 20 receipt rolls
- DC power converter to charge devices in the car
iZettle and Intelligentpos
iZettle recently purchases Intelligentpos, allowing the company to create the iZettle Pro system. iZettle Pro offers larger businesses a fully-featured POS system that includes options for inventory management (intended for retail businesses), table and tab management (for restaurants and pubs), and loyalty programs.
- Can you create a private account with iZettle? Yes, iZettle offers both business and private accounts. However, all registered UK businesses should sign up with a business account.
- Can you store transactions offline if there is no Internet? No, iZettle currently does not allow you to process transactions later if there is no Internet access. This is to protect customers’ credit card data.
- Can iZettle process e-commerce transactions? Yes, iZettle offers the Go PLUS plan for £29 per month if your business needs to process credit cards online.
- Can iZettle accept credit card payments over the phone? To process payments by phone you will need a virtual terminal.
- What devices does the iZettle app work with? The iZettle app works for iOS devices running iOS 8.2 or higher or Android devices running Android 4.1 or higher.
- How long does it take for iZettle transactions to be deposited in my business’s account? iZettle transactions are typically deposited within 2-3 business days if you request daily deposits. You can also opt to have deposits made every week or every month. Note that personal accounts are limited to £1,000 per day in deposits from chip and pin transactions, while business accounts are limited to £500,000.
- Are there transaction limits? The minimum amount for any transaction is £1. For private accounts, you are limited to £1,000 in transactions per day and £4,000 per year. For business accounts, you are limited to £500,000 in transactions per day and £5,000 per transaction.
- Can I select the VAT rate that applies to each of my products? Yes, you can set your VAT rate in your product libraries within the iZettle app.
iZettle isn’t alone in the low-cost transaction processing industry. These are some alternative companies that offer a similar solution to iZettle:
- PayPal Here
- Worldpay Zinc
To learn more about iZettle and get started with the iZettle payment processing terminal today, visit their website.