The likes of Square and PayPal have entered the mobile payments industry with a flurry and now Amazon is stepping in with its own product called Local Register. This $10 device snaps on top of your smartphone and lets you make credit or debit card payments instantaneously. The only limitation perhaps is the fairly small compatibility list which includes the Samsung Galaxy S5, Galaxy S4, Galaxy S III in addition to the Kindle Fire HD and the HDX. The device is compatible with the Apple iPhones and iPads as well. The unit plugs into the 3.5mm audio jack on your smartphone/tablet, making it that much more convenient to use.
At the moment, this service is only available in the U.S. and Japan, but more countries will receive support subsequently. Amazon will charge a 2.5% transaction fee each time a card is swiped, which is cheaper compared to Square’s 2.75% and PayPal’s 2.7%. And as part of its introductory offer, Amazon will only charge 1.75% in transaction fees until January 1 2016 with the $10 being discounted through transaction fees eventually.
So overall, for those who prefer mobile payments, this appears to be the best deal yet, especially if you opt for the introductory offer. It seems like Amazon is going all out with Local Register and things could get a lot better in the coming months as more devices and regions get support.
Naturally, the card reader comes with a companion app on Android which allows business to track sales trends, peak hours and more. Amazon will also offer dedicated accessories such as receipt printers, stands and even cash drawers to retailers.
Via: Cult of Android