Enabling Technologies

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.

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  • 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.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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