Amazon's Credit Card Reader Is Here, And It's Dramatically Cheaper Than Square
Square charges 2.75% for each transaction; Amazon charges 1.75%.
Amazon already has your credit card stashed away online. Now it wants to process the swipe transactions you make throughout your day. Like Square and PayPal, Amazon announced its own plastic credit card reader early Wednesday morning called Amazon Local Reader. It has one big competitive advantage (and one that follows in the grand Amazon scheme): It dramatically undercuts the competition.
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