This sounds just like Square Up payments we use in the US. It's 2.75% with no monthly or transaction fees. It's really great. And my day job I sell merchant services. It's hard to compete with that. Many companies have lower rates, but Square and izettle seem to have no monthly fees which is really great if you are doing less then $5k per month. I'm hoping to integrate something like that into my next app project. But so far Square doesn't work with app developers, and there is no izettle here.