Amazon enters payments space with POS solution

Amazon launched a mobile point-of-sale solution called Amazon Local Register that gives merchants a low-cost payment acceptance method while providing it with new insights into offline commerce.

Similar to mobile payment provider Square, Amazon Local Register is a secure card reader and mobile app that provides businesses the ability to accept credit and debit cards from a smartphone or tablet. Funds deposited directly into a bank account within one business day. The card reader costs $10 and became available on on August 13 and beginning August 19 it also will be available in Staples stores.

To generate trial and adoption, Amazon is crediting the $10 purchase fee back to customers after they begin using Local Register. To sweeten the deal, a promotional rate of 1.75% per swipe is being offered to until January 1, 2016 to early adopter who register before October 31.

“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, VP 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.”

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