What to Know Before Getting Started
Starting a New Business?
Selecting a credit card processor is often more complicated than most people expect. How much should you be paying in fees? Should you lease or buy equipment? Should you be locked into a service agreement for anything length of time? These considerations and several others are imporant to understand before signing up with any merchant account provider. Mistakes are easily made and can be very costly to your business. Along with seeing our top choices for payment services below, be sure to checkout this post to avoid common traps in the merchant services industry.
Considerations For Current Business Owners
Changing merchant accounts can be an expensive, complicated, and time consuming process. Are you really going to save as much as promised? Do you need to buy to new equipment or sign new lease agreements? Will there be other less accountable costs such as those associated with employee retraining? Before selecting one of our choices below, you may want to consider renegotiating your fees with your current payment processing vendors using the help of a contingency-compensated consultant. It can result in a dramatic decrease in costs without the pains of switching. In some cases business owner have also obtained substantial refunds of prior overcharges along with saving thousands in future processing costs. See this post to learn more about this little-known alternative to changing merchant account provider.
Like most other European nations, Sweden has only a few mobile credit card processing apps for merchants to choose from. U.S. and UK merchants are lucky to be able to choose between dozens of Square and PayPal Here copycats, but Swedish merchants have to choose their smartphone payment processing from a much smaller field. This might be attributed to a combination of factors—less demand for phone payment apps among Swedish merchants, a less tech-centric Swedish economy, the sophisticated hardware required to process EMV and NFC card payments via Bluetooth—but the net result is a lack of options.
Even in a small market, some options are better than others. That’s why we have created the following list of the best Swedish mobile credit card processing apps. The processors on this list offer low-commitment, low-cost smartphone payment apps and equipment and have received generally positive reviews for their customer support. Some providers on this list may be a better fit for your business than others, so be sure to compare their costs and customer service options before signing up for service.
Our unbiased articles are supported in part by helping you find highly reviewed merchant accounts. You can learn more here.
Why These Merchant Account Providers
Headquartered in Sweden, iZettle is a mobile credit card processor that has been processing payments since 2010. The company’s products and services include an EMV- and NFC-compatible mobile credit card reader, a point-of-sale app, email marketing tools, sales analytics, Xero integration, point-of-sale hardware, and merchant cash advance. iZettle is capable of serving businesses in Sweden, Finland, Denmark, Norway, United Kingdom, Germany, France, Spain, Italy, Portugal, the Netherlands, Mexico, and Brazil.
iZettle does not charge any monthly fees and provides its card reader for a one-time cost of 379kr plus VAT. iZettle gradually lowers its transaction fee from 2.75% for merchants processing less than 20,000kr per month all the way down to 1% for merchants who process over 500,000kr per month. Our review of iZettle currently gives it an “A” rating overall.
For more information, see the iZettle website.
379kr + VAT card reader
1% to 2.75% per transaction
Live customer support
Other Merchant Account Options
The providers in this section may not have been researched as thoroughly or may lack a quality that prevented them from being listed above. We have listed them here to provide a broader view of potential merchant account options. Are you a decision maker with your company and believe that you should be listed below? Tell us here.
A London-based business, SumUp is a mobile payment service that merged with Payleven in April 2016 and now acts as the parent brand between the two. Its products and services include an EMV/NFC card reader, a point-of-sale app, sales analytics, an itemized product catalogue, and digital receipts. Unlike iZettle, SumUp charges 1.9% for all transaction types. It also does not charge any monthly fees.
SumUp’s mobile card reader costs 699kr plus VAT. The company does not offer live phone support to its merchants. Our review of SumUp currently assigns it an “A” rating.
If we are missing any great Swedish mobile payment processing apps that should be included on this list, please let us know in the comment section below.