Amazon has launched its own card reader and accompanying app to allow small businesses to get paid. The Amazon card reader is called Amazon Local Register and it is aiming directly at Square and PayPal. One of the big features of the Amazon offering is that it has lower costs than Square and PayPal.
Amazon offers a flat charge of 1.75% per payment until the beginning of 2016, which is 1% lower than the fees required by both of the competing providers. On January 1 2016, the fees will increase to 2.5%, which is still lower than both competitors current pricing.
The card reader and apps are available for Fire OS, Android, and iOS devices. No monthly fees are charged and the card reader hardware will cost $10. Buyers of the card reader will get a $10 credit in processing fees making the reader free.
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