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PayPal and Square Watch out: Amazon Card Reader might be coming

E-commerce giant Amazon is all set to release its own mobile-based credit-card reader, according to 9to5mac, which discovered a leaked Staples document referring to the introduction of an Amazon Card Reader around the week of Aug. 12, 2014.

Source

  • This news comes barely a week after Amazon silently joined the mobile wallet race with the introduction of the Amazon Wallet on Google Play and the Amazon Appstore.
  • The Amazon Wallet does not feature any mobile payment options or credit/debit-card storage yet, but with a mobile card reader on its way that could change instantly.
  • Amazon will be competing with PayPal and Square for a share of the market.
  • The hardware will most likely connect to smartphones to process payments, in a similar manner to Square.
  • It will cost $9.99, according to the Staples internal sales systems.
  • In addition, Amazon’s Lab126 hardware division is developing other mobile-payment-related products that focus on biometric fingerprint scanners, according to 9to5Mac’s sources.

Amazon has been taking slow, definitive steps toward an opportunity that is 10 times as big as e-commerce. Last year, we learned that Amazon acquired GoPago, which produces a mobile app that enables consumers to pay for goods before picking them up at a store, with the retailer POS processing the orders.

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