Amazon takes on Square and PayPal Here with $10 iPhone/iPad cardreader & lower fees

Small businesses looking to take occasional card payments without paying monthly fees now have a third option as Amazon has launched Local Register to compete with Square and PayPal Here – as we predicted last month. The $10 card-reader is compatible with any iPhone from the iPhone 4 onward, as well as any iPad or iPad mini.

Amazon is undercutting both competitor services with a flat fee of 2.5 percent per transaction (vs 2.7 percent for PayPal Here and 2.75 percent for Square). Not enough? Amazon is sweetening the deal with a special introductory rate of 1.75 percent until the end of 2015, and will also credit the $10 cost of the cardreader in full against transaction fees …  Read more