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Amazon presents mobile payment system

Posted on Aug 15 2014 | IANS

San Francisco, Aug 15 : Global e-commerce company Amazon has presented a credit and debit card reader for mobile devices in the style of Square or PayPal.

The Amazon Local Register is a small extension that plugs into the connector for earphones on a smartphone or tablet and which, after the user - typically a small-business owner - downloads the corresponding app, allows card payments to be processed.

Local Register thus converts the smartphone into a mobile point of sale, a situation which can be useful both for small traditional stores as well as taxi drivers and mobile vendors.

The money from transactions can be deposited directly in a bank account on the next business day or may be accumulated to spend on Amazon.

The Amazon card reader is available in the US for USD 10 and is free if one makes a purchase of more than USD 35, and it is compatible with the Android and iOS operating systems, as well as with Amazon's Kindle and Fire smartphone.

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