Amazon Launches Local Register, A Square Competitor With Lower Transaction Rates

TechCrunch

Amazon has launched a Square and PayPal Here competitor called Local Register, which provides users with a free app and a $10 card reader, and charges merchants and anyone selling services who use it just 1.75 percent per swipe on both credit and debit transactions, so long as users sign up before October 31. That’s a special rate, and is a full percentage point lower than Square’s 2.75 percent per swiped transaction (3.5 percent plus 15 cents for manual entry), and will last until January 1, 2016, at which point it will return to the standard 2.5 percent per transaction Amazon is charging (or 2.75 percent for manually entered transactions).

The $10 fee Amazon is charging for people to buy its reader is also essentially erased since Amazon grants users of its payment system $10 in transaction credit right off the bat. Amazon is clearly hoping it can lure…

View original post 298 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s