Amazon is taking card payment seriously and just released a new card reader to coincide with the launch of Amazon Local Register.
Amazon Local Register is targeting small to medium sized merchants, giving them the ability to charge a customer’s card using a smartphone or tablet, and of course with the line of Kindle Fire phones and tablets as well.
If all of this sounds very familiar, you are correct. Amazon’s new service is somewhat identical to already established mobile card swiping services such as Square and PayPal Here. Amazon is aiming at pulling customers away from Square and PayPal by offering a lowered fee plan for early adopters.
The Participants in Forex Trading and their Role in the MarketGo to article >>
Amazon will offer a 1.75% flat fee rate on all transactions to merchants who sign up before October 31st, until January 2016. After that, the fee will jump up to 2.5%, still lower than 2.75% and 2.7% charged by Square and PayPal respectively.
We are only speculating the new card scanner is backed by technology provided GoPago, which was acquired by the Big A back in December 2013. Amazon is also no stranger to checkout procedures with Checkout by Amazon, a cart and checkout service proving successful for the firm.
What are your thoughts? Does Amazon have what it takes to stand tall in front of PayPal and Square? Would you use Amazon as a card processing service? Let us know in the comment section below.