Procurement · 15 September 2017

iZettle invoice service launched to ease bookkeeping burden on independent firms

iZettle has become a popular payment tool at independent coffee shops
iZettle has become a popular payment tool at independent coffee shops

Electronic point of sales (EPOS) payment startup iZettle has introduced an invoice service to allow small businesses to create and send professional-looking invoices within its app.

iZettle Invoice will be free for all existing iZettle users. The service will keep a record of a business’s online invoices, tracking which bills have been paid and which are outstanding, and which require automatic reminders.

Small businesses will be charged a fee to send invoices of 2.5 per cent per invoice, but will be able to send an unlimited number using the iZettle Invoice service. The firm’s customers are never charged a fee, the company has said.

With the introduction of iZettle Invoice, the Swedish fintech company hopes its offering to customers will be streamlined, enabling small business owners not to have to jump between various platforms to handle sales.

A small firm can keep a record of all the payments it’s received in one place, regardless of whether clients pay with cash, on card or by invoice. iZettle Invoice also offers customers analytics and reporting tools to enable business growth.

Commenting on the new service, iZettle CEO Jacib de Geer said: “UK small business owners often have to deal with far too much administration, in lots of different places.

“We want to take the load off and are continuously expanding our product suite to help small businesses get paid, sell smarter and grow their business.”

Earlier this year, iZettle launched a new “order and pay” app for small businesses in the hospitality and retail sectors, to allow customers to pre-order and pay for items for delivery or collection in-store.

Designed specifically to benefit independent hospitality businesses like coffee shops and cafes, the app awarded loyalty points for each purchase made via iZettle, rewarding repeat customers and offering greater convenience.

Will rising co-working prices force entrepreneurs back to coffee shops?

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ABOUT THE EXPERT

Fred Heritage is deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London. He previously worked as a reporter at Global Trade Review magazine.

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