Simply Business homepage
  • Business insurance

    Business insurance covers

  • Support
  • Claims
  • Sign In
Call Us0333 0146 683
Our opening hours
Knowledge Centre

How to take card payments - The affordable solution

1-minute read

Josh Hall

30 April 2013

Share on FacebookShare on TwitterShare on LinkedIn

Businesses that don't accept card payments are losing out on 120 million transactions a year.

This is according to new research from payment service Judo, which found that one in five consumers has failed to make a purchase in the last six months because they were in a shop that did not take cards.

Some 70 per cent of consumers now prefer to pay with cash, and six in ten now say that they would spend more with a business that takes cards than with one that doesn't.

There remains a perception amongst small business owners that card transactions are too expensive to process. Some businesses have also reported being refused merchant status, for example because of a poor credit history.

Cheap ways to accept card payments

But a new system aims to make it quick, cheap, and easy for small businesses to start accepting card payments. Swedish payments firm iZettle is offering a new service that it says makes it possible for anyone to carry out a card transaction with their smartphone or tablet.

iZettle make two devices, each of which simply either plugs into or wirelessly connects with an iPhone, other smartphone, or tablet computer. One device accepts PIN transactions, while the other takes signatures. Both devices come with an app that is installed on the phone or tablet.

In order to take a payment, the merchant enters the amount payable into the app. The payment screen can be customised with a photo and message. The customer then places their card into the reader, accepts the amount, and then either types in their PIN or enters their signature on the screen. The payment is processed, and an email receipt can be sent. The entire payment process is encrypted, and the cash is transferred directly into the merchant's bank account.

iZettle also offers a range of analytics to help business owners keep track of the payments they are taking. Merchants can track metrics like the proportion of returning customers, total revenue, and average payment value, providing new insights into businesses' performance.

How much does it cost?

There are two ways in which merchants pay for the use of iZettle. First of all, businesses need to buy the equipment. The signature device costs £20, while the PIN device costs £99 plus VAT. These allow businesses to take up to £15,000 and £25,000 in transactions each day, respectively.

Once you have bought the equipment, iZettle takes a 2.75 per cent cut of every transaction.

Where can I find out more?

Full information on the iZettle pricing plans is available on their website, where you can also sign up for an account and buy the equipment. The signature device is also available from EE stores.

Is your business insured?

We have 800,000 UK policies plus a 9/10 satisfaction score. Why not take a look at our expert business insurance options - including public liability insurance and professional indemnity - and run a quick quote to get started?

Start your quote

We create this content for general information purposes and it should not be taken as advice. Always take professional advice. Read our full disclaimer

Find this article useful? Spread the word.

Share on Facebook
Share on Twitter
Share on LinkedIn

Keep up to date with Simply Business. Subscribe to our monthly newsletter and follow us on social media.

Subscribe to our newsletter


Popular articlesBusiness resources from FarillioGeneral businessGuestInsuranceLandlordLandlord resources from FarillioLegal and financeMarketingNewsOpinionProperty maintenanceTradesmanCovid-19 business support hub


Public liability insuranceBusiness insuranceLandlord insuranceTradesman insuranceCharity insuranceNot for profit insuranceRestaurant insuranceCommercial van insuranceInsurers


About usOur teamAwardsPress releasesPartners & affiliatesOur charitable workModern Slavery ActSocial mediaSite map

Customer support

Contact & supportPolicy renewalMake a claimProof of policyComplaintsAccessibility


6th Floor99 Gresham StreetLondonEC2V 7NG

Sol House29 St Katherine's StreetNorthamptonNN1 2QZ


Careers at Simply BusinessTech careersCurrent opportunities


BenefitsRefer a friendFinance


Terms & conditionsPrivacy policyCookie policyVuln Disclosure policy


Knowledge centreOpinionsMicrosites

© Copyright 2022 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.