Jusp, a mobile point of sale provider, announced a flat monthly fee ranging from 39 to 69 euros (approximately $53 to $93) to target midmarket merchants and large corporations.
Mobile point of sale is not only for micromerchants, but its really a device that can be used for any kind of merchant, says Stefano Calderano, CEO of Jusp, based in Italy. In September, Jusp launched its plug-in mobile chip-and-PIN reader.
Today, the core of the market is the mid-market, if you look at volumes, says Calderano.
European micromerchants accept payments totaling between 6,000 to 7,000 euros per year, while medium-sized merchants accept about five times that, or about 35,000 euros annually, he says.
The flat fee is based on the amount the merchant charges in a month.
With midmarket businesses and large corporations its a completely different approach in terms of pricing, in terms of technology and in terms of approach, Calderano says.
Typically, mobile point of sale providers globally do not charge a monthly fee, instead charging transaction fees between 1% and 3%.
High transaction volumes allow large- and medium-sized merchants to pay processing rates that are lower than what mobile point of sale providers typically charge. So many of these merchants havent adopted mobile point of sale yet because the fees would be higher, says Calderano.
Mobile point of sale provider iZettle also reworked its pricing model recently to appeal to high-volume merchants. The U.K.-based company now charges a range of 1.5% to 2.75% on transactions, with merchants with higher monthly sales paying a lesser transaction fee.
Jusp also developed an application for Windows-based desktop computers, since large merchants typically use PCs instead of smartphones and tablets to take payments at their locations, says Calderano.
Jusp is currently only available in Europe, but the company is looking for local partners in Australia, Southeast Asia, Latin America, South Africa and other segments of Europe, says Calderano.
In emerging markets there are cards already and theres a huge opportunity to put in place the basic infrastructure for point of sale, he says. These countries will certainly go to mobile point of sale because its cheaper and many consumers are already heavy users of mobile, he says.