I just ran across an article on cnnmoney.com; Amazon is introducing Local Register, small businesses that sign up before october pay only 1.75% per swipe. The reader will be credited $10 against first usage.
I have not had chance to look for further details, but they are definitely taking a run at Square, who to this point I've been quite happy with.
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I'm glad I stumbled across this I didn't realize Amazon created this new service. I have been looking for a Square replacement, since I had a bad experience with them this summer with a chargeback. They are holding $500 of my money because a customer was saying they didn't know what the charge is for (I have a feeling that someone duped us with a stolen credit card). I am doing some research but I didn't think it was the merchant that got dinged for that but the credit card company. I am livid someone made off with several of my framed prints which I will not get back and not sure if I will even get my $. Anyway, it was super frustrating not having someone to talk to and I will never work with a company that I cannot reach a human being when it comes to my money again.
Don't waste your time with Amazon Local Register. I wanted to take advantage of their promotional offer for 0% at a 5 day show in Tacoma. Never could get it set up right with multiple calls to their customer service. I was able to swipe cards at the show, but unable to transfer the money into my bank account due to their technical difficulties. I'm a happy Square user and I don't recommend Amazon to anyone. It was disappointing as all my other experiences with Amazon have been great.
I saw it come out, and tried it. I have YET to get my money from Amazon. They put a 14-day hold on all transactions, but "after 100 transactions I won't have a hold." That doesn't help my bills right now, does it?
Lower fee or not -- I'm going back to Square.
that should read... NO hold on any of my sales...
I am wondering what Square is going to do with the new chip cards... I imagine they will come up with something. I get pretty much 90% of my sales using a credit card. I get maybe one check per show if that and only very occasionally get cash.
Here is the official info on EMVs from Square.
Thanks Bill.
Alison, The chip cards work now with square when you swipe them. I have tried it with my own card. However, Square said they are coming out with a new reader soon that allows inserting the card into the chip reader also. I would imagine the old style readers will eventually be phased out and not work anymore just as the older Square readers were phased out last year. I also read that the new chip card readers would not be free but would have a cost to get them.