Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Amazon challenges Square with payment system

14 August 2014, 16:35

New York - US online giant Amazon unveiled a new payment card reader for mobile devices on Wednesday in challenging a system pioneered by Square.

The e-commerce giant unveiled its "Amazon Local Register", described as "a secure card reader and mobile app that provides local businesses with the tools they need to quickly and easily accept credit and debit cards from a smartphone or tablet and keep track of their growing business".

The move expands Amazon's efforts to gain a foothold in the payments business in addition to its traditional role as a retailer.

Amazon launched its payment service in 2013, allowing people to make one-time payments to third parties and later unveiled a system for recurring payments.

With the card reader, Amazon will get a 2.5% commission on sales, but is offering a promotional rate of 1.75% for customers who sign up by 31 October, a rate that will remain in place until 2016.


"From clothing stores to contractors, food trucks to accountants, businesses and organisations using Amazon Local Register will enjoy industry-leading low rates, trusted and secure payment processing, and access to award-winning customer support," said Amazon's Matt Swann.

"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."

Merchants can buy a mobile reader for $10 and attach the device to many tablets and smartphones. Amazon will credit back the first $10 in transaction fees, making the device free.

Amazon will also allow transactions to be processed through a mobile app without the use of the reader.

The fees from Amazon undercut the system used by Square, a payments processor set up in 2010 by Jack Dorsey, one of the founders of Twitter.

Square takes a 2.75% cut on sales from its card reader and 3.5% plus 15c from its mobile app.

PayPal, a unit of the online giant eBay, also has a card reader and gets a 2.7% commission per swipe.



Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
George Vodongo
Al Shabaab attack Mandera hotel, ...

A total of 33 non-locals were in the hotel when the assault was launched.  Read more...

Submitted by
Shakila Alivitsa
4 ways to handle your cheating ma...

He is cheating. How do you handle him?

Submitted by
Shakila Alivitsa
Why do men choose second wives?

Why do men choose to have second wives?

Submitted by
Eugene Odanga
Wizkid set for twin Kenyan shows

Wizkid is back in Kenya. For two shows.

Submitted by
Eugene Odanga
Udada women's festival begins in ...

The Udada women's festival has arrived in Nairobi.

Submitted by
Uhuru pardons 2747 death row conv...

President Uhuru Kenyatta has pardoned a number of death row convicts, sending them to life sentences instead. Read more...