Square, PayPal, Shopify, Chase, Staples (believe it or not) and now Amazon.
Because clearly there weren’t enough options for small businesses in need of online payments and mobile points-of-sale (POS) solutions.
With Amazon Local Register, you now have even more ways to get paid, help Amazon out of its recent second-quarter stock slump, and add yet another tiny, plastic (and easily misplaced) card reader to your collection.
What’s the major plus side for small business and non-profits? In Jeff Bezos’ quest to make Amazon the center of the universe, Amazon is offering a huge discount on transaction fees if you sign up before October 31st, and that will last until January 2016.
Here’s one of those comparison thingies to break it down for ya, courtesy of Amazon:
- Amazon: 1.75% Limited Time Offer.
- PayPal Here: 2.7%
- Square: 2.75%
- Amazon: 2.75%
- Square: 3.5% + $0.15
- PayPal Here: 3.5% + $0.15
Now, there is one catch (but of course)! Unlike other mobile payment services, you have to pay a whopping $10 for the card reader, which normally you can get for free. However, you’ll get a $10 credit towards your transaction fees for doing so.
Even after January 2016, Amazon’s pledging to keep the fees down to 2.5%. But, by then, who knows? Maybe Google will figure out how we can move money with our minds.
What does this mean for you, the merchant or non-profit? Maybe nothing. Maybe everything. It’s all about what feels right to you. If you are particularly stung by the chunk of money you lose per swipe with your existing POS solution, then Amazon Local Register might be a real win for you.
I’m willing to give it a try and tell you what I think. I’ve already used Square and PayPal Here in the past, so what’s one more, amiright?
Do you already use a mobile card reader for payments on the go? Do you want to know more how to incorporate such a solution with your business? Well, book a time to chat with me and we can get you started with one of these options.
Photo Credit: James Duncan Davidson / Flickr, respectfully but comically modified with selection from Amazon Local Register promotional photos.