Amazon.com has launched Amazon Local Register – a card reader and mobile app that lets retailers accept payments from a smartphone or tablet.
This pitches it against Square and Paypal, both of whom it is undercharging with a discounted 1.75 per cent transaction fee for those who sign up before October 31st. This fee will rise to 2.5 per cent from January 1st 2016.
The $10 device – available to buy online here – is currently available in the US and there are no plans as yet for a UK launch. It is compatible with Apple devices running iOS7, Kindle Fire tablets and select Android smartphones, and simply connects to the device.
Customers will also be able to purchase the card reader from Staples stores from August 19th in the US.
Money from transactions can also be deposited directly into a bank account within one business day, or spent on Amazon.com ‘within minutes’.
“From clothing stores to contractors, food trucks to accountants, businesses and organisations using Amazon Local Register will enjoy industry-leading low rates, trusted and secure payment processing, and access to award-winning customer support,” said Matt Swann, Vice President of Amazon Local Commerce.
“We understand that every penny and every minute counts, so we want to make accepting payments so easy and inexpensive that it no longer gets in the way of a business owner doing what they love – serving their customers and growing their business.”