Amazon.com, Inc. (NASDAQ:AMZN) announced the launch of Amazon Local Register, a secure card reader and mobile app that provides local businesses with the tools to easily accept credit and debit cards from a smartphone or tablet, on Wednesday, August 13th. The mega e-tailer also noted that Amazon Local Register customers will have access to Amazon.com’s dedicated customer support team, as well as in-app tracking tools.
As an added enticement, customers who sign up for Amazon Local Register before October 31st will enjoy a promotional rate of 1.75% per card swipe on all major credit and debit cards through January 1, 2016.
There's been a mad dash to find the next Tesla in recent years, with billions of dollars being poured into electric vehicle companies. Components have received less attention than complete vehicles, but one ValueWalk subscriber found a component maker he believes would be a good investment. During a recent webinar, subscriber David Schneider shared his Read More
Statement from Amazon
“From clothing stores to contractors, food trucks to accountants, businesses and organizations 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.”
Taking on Square and PayPal
With this new Amazon Local Register initiative, Amazon.com, Inc. (NASDAQ:AMZN) is taking on established mobile payment systems such as Square and PayPal Here. Industry analysts say trying to compete with already well-known names makes this a somewhat risky move for the online sales titan, but they also note mobile payments are growing rapidly and Amazon likely has the clout and cachet with consumers to pull it off.
More details on Amazon Local Register
Amazon.com, Inc. (NASDAQ:AMZN)’s new service includes a card reader for use with a smartphone, Kindle or tablet. The reader processes payments via the secure Amazon network that processes Amazon.com purchases.
Amazon Local Register is designed for small business owners who might otherwise only be able to accept cash or checks (such as massage therapists, food trucks and craftspeople who sell their work at fairs and the like).
Small businesses can create an account on http://localregister.amazon.com. You must purchase Amazon’s card reader for $10, then download the free mobile app from the Amazon app store, the Apple app store or Google Play. A new customer’s first $10 in transaction fees will be credited back to the customer’s account once Amazon Local Register is in use, meaning the card reader is essetially free.