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Amazon reportedly going after Square with its own credit card reader

Amazon manages payments for its online service securely and millions of people trust the site with their financial information. Amazon has expanded its reach recently with a buy button for websites across the web. Now Amazon wants to build upon its customers trust and offer a credit card reader to compete with Square or Paypal. A copy of the inventory documentation provided to 9 to 5 Mac includes an unreleased product referred to as an “Amazon Card Reader.” The site reports that it’s marked as a $9.99 product and the system notes that signage related to the reader should be held until August 12th.

A move like this would make sense for the ecommerce giant as they have recently released a wallet app to manage all your gift cards and other credit cards. While this is only a leak it could lure stores away from Square and PayPal, and encourage them to sell goods online via Amazon too. Its unclear if Amazon will build their newly released wallet app to function as the point of sales system or they’ll release another app for that.

Now if shops will give into Amazon and use their system is a big questions because many places don’t like how Amazon lures customers away from stores. With Amazon stores become the show rooms while customers buy online for a cheaper price than listed. While customers trust them with their finical informations stores may worry customers will flee instead of coming in to buy more goods.

Tell us in the comments below what you think about Amazons point of sales system to compete with Square and PayPal.

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