Amazon announces device like Square, at 1.75%

http://money.cnn.com …sing/index.html​?hpt=hp_t4

This looks interesting. I'll have to read the fine print.

There is some battle going on with their reviews.
http://www.amazon.com …cure-Reader/dp/B009AMF5XG

Some claim Square employees are slamming the product.

looks a fab rate and low cost to buy, sounds almost too good to be true

Absolutely Fabulous wrote in post #17095590
looks a fab rate and low cost to buy, sounds almost too good to be true

Amazon already does so much commerce with credit merchants that I wouldn't be surprised at the lower fees. They were probably able to negotiate lower rates, and as an extablished profitable company, can accept smaller margins.

1.75% fees would interest me as well, if for nothing else but to avoid Paypal.

The rate is only good through 12/31/2014, then goes up to 2.5%. Only .25% less than square. Less is less, though. Manually keyed transactions are .5% less than square.

MedicinSC wrote in post #17095618
The rate is only good through 12/31/2014, then goes up to 2.5%. Only .25% less than square. Less is less, though. Manually keyed transactions are .5% less than square.

the pennies always add up

MedicinSC wrote in post #17095618
The rate is only good through 12/31/2014, then goes up to 2.5%. Only .25% less than square. Less is less, though. Manually keyed transactions are .5% less than square.

2016 actually I think

edit: yep "Accept all major cards for 1.75% per swipe until January 1, 2016 (limited time offer). No hidden fees"

http://www.amazon.com …cure-Reader/dp/B009AMF5XG

Has anyone heard/read anything regarding customer complaint policies? I'm wondering if this will have any issues like so many have had with PayPal... customer complains and gets a refund from Paypal with very little due process for the business owner.

Haven't been able to find anything, just curious if anyone else has?

Read reviews of the device @ Amazon. A lot of people complain of horrible support when they run into problems.

Having both a Square & Amazon devices could be a better solution. Charge it to Amazon and if it doesnt work use Square as backup.

Another deciding factor is how much will Amazon charge for an EMV reader? Square is charging $40 for one and since all US cards need to support EMV by October 2015, it's going to be a factor. In order to be protected by fraud from card present transactions, the merchant would need to be using EMV compatible equipment.

Also, will it support Apple Pay? Square has already said it'll accept Apple Pay with new equipment next year.

Square gives you free device, Amazon charges $10 (you get it back as service credit after using Amazon). Square has updated device listed for pre-order at $29. Amazon's device cannot read new cards and will have to release a new device when the time comes.