Amazon Launches Mobile Payment Service

Retailer enters mobile payment market

(Image: Thinkstock)

Amazon.com announced the launch of Amazon Local Register, a mobile payment service.

In order to use the service, you’ll need to download an app and then add a card reader provided by Amazon to your tablet or iOS or Android smartphone, reports The Wall Street Journal. All major credit cards are accepted by the card reader.

You’ll have to pay a fee for each transaction, but early birds get a reward. If you sign up for the service before Oct. 31, you’ll get a rate of 1.75% per swipe until Jan. 1, 2016.

If you’re late to the party, you lose out. Sign up after Oct. 31 and you’ll be charged a 2.5%, transaction fee. This, however, is less than Square’s 2.75% fee and PayPals’s 2.7% fee.

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