Amazon Local Register: AMZN Debuts Mobile Credit Card Reader

The credit card reader costs $10

   

Amazon Local Register: AMZN Debuts Mobile Credit Card Reader

Amazon (AMZN) has released its own credit card reader with the “Amazon Local Register Secure Card Reader”.

amazon amzn stock amazon local register credit card reader Amazon Local Register: AMZN Debuts Mobile Credit Card Reader
Source: Amazon

The Amazon Local Register is available on the online retailer’s website and costs $10. The purchase of the card reader also includes a $10 credit toward processing fees charged by the online retailer. This makes up for the cost of buying the item.

Until January 1, 2016 the Amazon Local Register will only have a processing fee of 1.75% per swipe. This is below the 2.75% and 2.7% processing fees charged by Square and eBay’s (EBAY) PayPal respectively. The device accepts all major credit cards and works with Fire tablets, iPhones, iPads and some Android phones.

To make use of the Amazon Local Register credit card reader, users need to download the app. This app claims to allows users to check how their business is doing and also allows them to make easy deposits to bank accounts.

The Amazon Local Register currently has a rating of 1.4 out of 5 stars based on 17 customer reviews. The major complaint from customers who have bought the device is that it requires them to set up a new Amazon account to use the app instead of letting them use their current one.

The release of Amazon Local Register falls in line with earlier rumors that claimed the device would launch in August for $10. These rumors were based off of documents of the device’s launch at Staples (SPLS).

AMZN shares were up 2% as of Wednesday afternoon.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/08/amazon-amzn-amazon-local-register/.

©2014 InvestorPlace Media, LLC

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