Amazon.com, Inc. (AMZN)’s Low Priced Mobile Credit Card Reader All Set To Oust Square And PayPal

Amazon.com, Inc. (NASDAQ:AMZN) has unveiled ‘Local Register.’ It currently comes with a free app and merchants are charged a one-time fee of $10. Those who sign up before the end of October get a special rate of 1.75 % per swipe. This rate will be valid till January 1, 2016 after which it will go up by 0.75 percentage points to 2.5 % per swipe. CNBC’s ‘Squawk on the Street’ team talks about this new venture of Amazon and how it will affect current market leaders Square and PayPal.

is amazon a good stock to buy, amazn vs content, Amazon.com, Inc. (NASDAQ:AMZN), amazon stops pre-orders for disney movies

“[Amazon] charging 1.75 is a full point below Square. That’s going to get some small business owners’ attention”, said journalist and Squawk on the Street co-host Carl Quintanilla referring to Amazon.com, Inc. (NASDAQ:AMZN)’s offer to charge merchants 1.75 % per swipe for purchases using Local Register whereas Square currently charges 2.75 % per swipe. The one-time fee of $10 will also be repaid as transaction credit.

Amazon.com, Inc. (NASDAQ:AMZN) is famous for luring customers by cutting charges policy. It had followed the same previously for Amazon Web Services, its extremely successful cloud offering for small businesses.

“They try a lot of different things out and they do typically come in and not just undercut but then continue to push prices down à la AWS, Amazon Web Services [...]”, added market news analyst and Squawk on the Street co-host David Faber.

Now that most of the world is shifting to credit cards with embedded microchips, Square recently announced the launch of its chip-compatible dongle to keep up with the changing times. This gives Square one point over Amazon.com, Inc. (NASDAQ:AMZN) albeit for a limited time until the latter alters its current device suitably. The overall verdict is that Amazon’s Local Register will definitely give tough competition to existing services offered by Square and PayPal.

Disclosure: none

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!