European mPOS specialist Payleven is to drop its fixed pay-as-you-go transaction fees for UK customers that process more than £2,500 per month. A new tiered pricing model will see transaction fees start at 2.75% and drop to as little as 1.5% depending on how many transactions the merchant processes.
A small business using Payleven, which processes more than £2,500 per month and less than £5,000, will pay transaction fees of 2.25%. When processing more than £5,000 and less than £7,500 per month fees will decrease to 1.75% and when processing over £7,500 per month fees will decrease to 1.5%.
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. Launched in 2013, Payleven’s chip and PIN technology incorporates a card reader which connects to a smartphone or tablet via Bluetooth.