Amazon’s £6 card reader and mobile app signal retailer’s move to high street payments
Amazon yesterday unveiled a $10 (£6) card reader and mobile app to allow high street businesses to accept card payments, marking the latest step by the online retail giant to expand its presence in the physical world.
The move challenges a slew of rivals in the space, including startup Square, which popularised a payments dongle that allowed small firms, such as pop-ups and coffee shops, to accept cards.
Amazon’s system, called Local Register, will launch first in the US and charge just 1.75 per cent on payments, undercutting rivals, which charge 2.75 per cent.
“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,” said Amazon vice-president Matt Swann.