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Leaked: Amazon May Take On Square and PayPal With Possible Launch of Their Own Mobile Credit Card Reader

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Amazon might be planning to introduce their very own mobile credit card reader on August

Amazon might be planning to introduce their very own mobile credit card reader in August

 

Apart from online retail, e-commerce company Amazon is apparently interested in brick-and-mortar selling too. Recent reports claim that the online retail giant is launching its own credit card reader or point-of-sales system that will likely rival Square?s product and another industry heavyweight PayPal Here.

Documents from supply chain store Staples have been obtained by the crew at 9to5Mac. One of them (see below) shows that an ?Amazon Card Reader? priced at $ 9.99 will be available in the very near future. Though the documents didn?t reveal any precise release date, they did indicate that the chain store must put up the ad materials for the said device on August 12. Though that does not necessarily mean that it will indeed launch on the 12th, it?s a reliable indicator that the card reader will be up for sale on the following days or perhaps weeks. Logic suggests that relevant peripherals will also be available by that time.

The mobile Amazon credit card reader is expected to function by plugging into the headphone socket of a smartphone, much like Square?s device. It will allow users to swipe the card through the slider; the transaction will immediately be processed and a confirmation code will then be displayed on the smartphone?s screen. The funds are automatically reflected on the merchant?s account, depending on the service. Of course, Amazon will get a small fraction of the amount charged to the consumer?s credit card.

Leaked photo: Amazon credit card reader (courtesy of 9to5Mac)

Leaked photo: Amazon credit card reader (courtesy of 9to5Mac; click to enlarge)

Aside from the information detailed above, this recent leak does not give us any more info. In a separate report, tech watchers claim that Amazon?s Lab126 hardware division is currently working on other mobile payment products that will utilize biometric fingerprint scanners.

If these reports prove to be accurate, the real challenge is whether Amazon will be able to compete with the already established products and services of PayPal and Square. The online retail arena is filled with lots of fierce players; it?s interesting to know how Amazon?s supposed credit card reader will add up. All we can do for now is sit (or shop) and wait.

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Photo Credit: 9to5Mac / Wikimedia

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