In a long-anticipated move, Amazon.com has entered the mPOS market with the announcement the launch of a new secure card reader and mobile app with a competitive pricing strategy that poses a direct challenge to both Square and PayPal.
Amazon Local Register will provide mPOS services to retailers via a USD10 credit-card reader and accompanying mobile app in a move that will expand the online retailer’s presence in the offline world.
Like its rivals, the service includes in-app analytics, allowing merchants to track inventory and sales. Retailers that sign up by the end of October will pay just 1.75% per swipe until the end of 2015, after which the price goes up to 2.5% – still less than the 2.75% charged by Square and 2.7% PayPal Here users pay.
Matt Swann, Vice President of Amazon Local Commerce commented: “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. 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.”
Nine out of ten consumers use their smartphones more than any other device, and consumers would also prefer to use biometrics over PINs - with fingerprints being the preferred method, according to a new Mastercard survey.
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.