Amazon Unveils Its Own Affordable Credit Card Reader

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3Q 2014 | IN-1019861

Amazon’s Local Register

NEWS


With UK£74 million as a reported loss for 2Q 2014, Amazon has added yet another product to its expanding portfolio. This time it is a smart device add-on for payment processing, a product meeting the needs of small-scale businesses that serves the role of a cash register. While entering this niche space, Amazon lures consumers by offering a discounted transaction processing fee of 1.75% instead of PayPal’s 2.7% or Square Register’s 2.75%. With Amazon’s financial backing, its Local Register will force its competitors, especially Square Register, to go back to the drawing board to increase their competitive edge. The second sales edge that Amazon has over its competitors includes a starting credit of US$10 to cover the charge that consumers spend for buying its card reader. Essentially, the vendor has a free card reader along with a percentage-lower processing fee. Now, this is hard to beat.

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