Stripe takes on Zettle with point of sale hardware

As the most highly valued fintech company in the world that’s made its name in the digital sphere, Stripe’s move into hardware is notable.

As the world goes back to something like normal, it seems likely payments made in the physical world will increase.

To capitalise on the opportunity, and take on the likes of Paypal-owned Zettle (formerly iZettle), the world’s most highly valued fintech company Stripe has launched its own ‘terminal’. 

The new device will allow merchants, particularly smaller firms, to take low cost payments with a card or smartphone.

Stripe is currently offering the new point of sale device on an invite-only basis and only to North American customers although on its UK website it features the machine alongside pricing in UK pounds.

The terminal comes in two formats, the cheaper option featuring a colour display and pin pad, priced at £49. 

A premium touchscreen version comes in at £179. It charges 1.4 per cent plus 10p per transaction for European cards and 2.9 per cent plus 10p for non-European cards.

Stripe recently launched its card issuing business in Europe, allowing users to create, manage, and distribute virtual and physical payment cards