Amazon Local Register, the company’s new card reader, is a black rectangular device that plugs into a merchant’s smartphone or tablet. For $10, it works with an app that tracks business transactions for merchants. Amazon offers lower processing fees with the device if a merchant signs up before the end of October, while the standard deal will remain a 2.5 percent charge, which is less than other card reader offers. The lower charge means that Amazon is likely making little profit. Continue reading Mobile Payments: Amazon Debuts New Credit Card Reader

Amazon plans to offer brick-and-mortar retailers a new checkout system using its Kindle tablets, expected to be available as early as this summer. The development stems from Amazon’s acquisition last year of certain tech and engineers from GoPago, a startup known for its cloud-based mobile payment platform. The move could provide Amazon with a significant growth opportunity. However, it also faces numerous competitors in the checkout system space.  Continue reading Amazon to Introduce Kindle Checkout System for Retail Stores

Several companies are developing systems and apps that use sound waves to transfer small pieces of data over short distances, and could simplify transferring funds electronically. This is an alternative to using near-field communication (NFC) to transfer data wirelessly. Many devices are ready to use sound technology, including simple and feature phones. There are problems in using sound especially in loud areas, but it has significant potential. Continue reading Companies Using Sound for Mobile Payments and Data Sharing