Amazon Credit Card Reader is launching to compete with Square

Amazon would be a little more involved in systems of electronic and mobile payment and is currently developing a credit card reader that can be attached to a smartphone.

How to encourage customers to consume? By offering them a greater ease in settling their purchases, and in this field, Amazon thinks it has a card to play.

According to sources from the group, Amazon could well be in the process of developing the Amazon Card Reader which appears to connect a smartphone that can read the magnetic strips of credit cards on the mobile device.

9to5Mac has recovered documents (a list of supplies chain of Staples) on which you can see the name of the device, located just above the PayPal Here Mobile Card Reader and Staples Credit Card Reader, two other devices that enable merchants to collect payments from their customers via a smartphone. Very affordable modules for traders, since their price does not exceed ten dollars.

Amazon could then engage in fierce competition to win with small physical stores worldwide.

About the device itself, it would connect to the headphone jack of a smartphone or tablet. It would be enough for retailers to launch the dedicated application to display the amount to be withdrawn, and then drag the customer's credit card into the machine so that the transaction is committed. The customer then receives a receipt directly from their smartphone. Of course, Amazon is expected to earn a commission on each transaction with the device, the amount of which remains unknown for now.