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European mPOS provider releases new fee model

European mobile point-of-sale provider payleven drops fixed pay-as-you-go transaction fee-model for U.K. customers processing more than £2,500 per month.

European mobile point-of-sale provider payleven has announced it has dropped its fixed pay-as-you-go transaction fee-model for its U.K. customers processing more than £2,500 (US$4,130) per month, according to a press release.

With payleven's new pricing model, transaction fees start at 2.75 percent and drop to as little as 1.5 percent in three different ways, the company reports. The more card payments a merchant processes, the lower the fees. A small business, which processes more than £2,500 per month and less than £5,000 using payleven, will pay transaction fees of 2.25 percent, according to the press release. When processing more than £5,000 and less than £7,500 per month, fees will decrease to 1.75 percent and when processing over £7,500 per month fees will decrease to 1.5 percent. The rate reduction applies to all current cards accepted by payleven and the transaction fee is automatically calculated. Cost savings will directly be paid back to the customer the following month, according to the company.

"We strive to help merchants to grow their business and are very happy to support them with our new pricing model that retains the core payleven proposition of being 100-percent pay-as-you-go and fully transparent whilst also delivering highly competitive pricing for larger customers," said Ian Marsh, managing director of payleven UK. "Together with our strong retail network including trusted brands as Apple, Staples, Screwfix and Sally Salon Services, we want to push the trend further in card acceptance."