Amazon.com has entered the mobile payment market with the launch of Amazon Local Register, a nifty device that enables small and medium-sized business owners to accept debit and credit card payments via smartphones and tablets.
This puts the online retail giant in direct competition with established brands including Square, PayPal and Intuit.
The company believes their lower introductory transaction fee and massive clout in the retail industry are the key components to win new clients and grab signification market share in this industry.
“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,” said Matt Swann, VP local commerce for Amazon.
Amazon Local Register is very similar to Square. It works by attaching a small card reader to any smartphone, tablet or Kindle devices and uses the same secured payment network handling purchase transactions at Amazon.com.
Interested business owners need to buy the card reader for $10, register at http://localregister.amazon.com and download the free app compatible with their devices.
If you’re a business owner, are you willing to switch to this new mobile card reader? As a shopper, do you feel safe using card readers in general when paying for products or services?