Amazon unveils mobile credit card reader


Jumping further into the mobile payments market, Amazon (NASDAQ:AMZN) has unveiled a credit card reader to take on devices made by Square, PayPal, and a range of other companies.

The new gadget expands the online retailer's presence in the brick-and-mortar world, and will give the company data on how U.S. consumers shop offline.

Amazon will compete with rivals by charging lower fees per swipe.

From other sites
Comments (12)
  • Gary J
    , contributor
    Comments (11154) | Send Message
     
    The vendors at farmers and other outdoor markets will love this cheaper per transaction device.
    13 Aug 2014, 07:15 AM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4381) | Send Message
     
    Or not. I pay them cash, which they seem to like even better. It's not usually the device rental that is a problem for merchants who want to take payment cards, it's the per transaction fees. I actually encountered an organization that took my credit card without any equipment at all other than a smartphone. They had an app on it that took my number off the card, the amount, and my signature (using my finger on the touchscreen) and submitted the transaction. It was kinda rinky that it wouldn't let me use a pen or stylus, but it was adequate to run the transaction.
    13 Aug 2014, 02:26 PM Reply Like
  • Gary J
    , contributor
    Comments (11154) | Send Message
     
    Cash? So last century - and even the farmers know it.
    13 Aug 2014, 02:33 PM Reply Like
  • ReligiousWacko
    , contributor
    Comments (1862) | Send Message
     
    because farmers love to pay 1.75% instead ? Try and keep up.
    13 Aug 2014, 03:47 PM Reply Like
  • ReligiousWacko
    , contributor
    Comments (1862) | Send Message
     
    never mind that Square is losing money http://nyti.ms/1AdDfd0
    Amazon up 3% after getting into another commodity, money losing business.
    I guess there are quite a few Garys out there.
    13 Aug 2014, 09:45 AM Reply Like
  • Terrywg1
    , contributor
    Comments (8) | Send Message
     
    So instead of offering something new, they are simply copying someone else's business model and charging a predatory fee. So much for Amazon innovation.
    13 Aug 2014, 10:38 AM Reply Like
  • portatopia
    , contributor
    Comments (1539) | Send Message
     
    When are investors going to wake up to the insanity of this company? They don't make money, yet they want everyone else to give up their margin so they don't have to raise their prices. They are now in their own branded hardware business which loses money. They are in far too many businesses with no particular focus on profitability on any of them. And they now want retailers to use Amazon hardware and software for payments. Meanwhile Amazon is taking their customers through online sales, and losing money in doing so. Amazon is also putting tools in those retailers' customers' hands which allow the shopper to point their Amazon device's camera at the retailer's instore merchandise, then automatically and instantly find it on Amazon instead so the customer can order it cheaper. How else can you describe insanity? What retailer would want to feed their competitor's machine?
    13 Aug 2014, 11:35 AM Reply Like
  • $vix
    , contributor
    Comments (654) | Send Message
     
    Amazon rarely offers the cheapest pricing. There isn't a product they sell that can't be found for MUCH cheaper elsewhere.

     

    This morning I bought a Whirlpool dryer rack part # w10121663. Amazon sells it for $30.01. Amazon's "more buying choices" has it for $24.80 to $68.00 !

     

    With a simple search on Bing, I found it at appliancepartsexperts.com for $13.31. Even with shipping, that's a tremendous price difference on just one part.

     

    The CamFind app for iPhone and android already does more than Amazon's "new" Firefly. Download it, then go to an ATT store and compare it to Firefly. You'll discover that Firefly is inferior.

     

    Amazon is a glorified 3rd party retailer and now specializes in simply copying others ideas.

     

    However, wall street is in love with Bezos and his delusions. This is what keeps the stock price afloat and they don't seem to be jumping ship anytime soon.

     

    I am a consumer who believes in not paying more for the exact same item and therefore I am not an amazon fan or customer. From a traders standpoint, however, amzn should revisit the 364 range as more fluff news hits the newswires.
    13 Aug 2014, 12:05 PM Reply Like
  • ReligiousWacko
    , contributor
    Comments (1862) | Send Message
     
    "investors" might not be right term....

     

    My brother works at Twitter and he's been selling as soon as he vests. He talked to co-worker that was holding on to his shares. It was soon obvious the co-worker didn't really understand difference between revenue and earnings.
    13 Aug 2014, 12:23 PM Reply Like
  • Gary J
    , contributor
    Comments (11154) | Send Message
     
    "Amazon is also putting tools in those retailers' customers' hands which allow the shopper to point their Amazon device's camera at the retailer's instore merchandise, then automatically and instantly find it on Amazon instead so the customer can order it cheaper. "

     

    I do this all the time!! Everybody should!! <- PLEASE TAKE NOTE

     

    Oh and re: pricing -

     

    Track prices on this web site -

     

    http://bit.ly/1fAjrYQ

     

    and will see it is a meaningless waste of time. Prices change according to Amazon's competitive pricing algorithm often daily, sometimes hourly.
    13 Aug 2014, 01:58 PM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4381) | Send Message
     
    If I'm searching for an item in a physical store, it's usually because I don't want to wait for it to be delivered. Not always true, but most of the time it is.
    13 Aug 2014, 02:30 PM Reply Like
  • meddguy
    , contributor
    Comments (10) | Send Message
     
    It doesn't sound like insanity to the comsumer!
    We are getting a better deal with Amazon.
    13 Aug 2014, 03:04 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs