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Amazon takes on Square, PayPal with new credit card reader
Amazon takes on Square, PayPal with new credit card reader

Amazon is making a play in small-business payment processing by launching Local Register, a credit card reader that can be attached to a smartphone or tablet. The Seattle-based online retailer announced the $10 device Wednesday, challenging established players in the market, including Square and PayPal. Businesses that purchase Local Register and sign up for an account before Oct. 31 will pay a 1.75% fee for each payment processed until Jan. 1, 2016. Businesses that sign up after Oct. 31 will pay the standard 2.4% rate. By comparison, Square grabs 2.75% of each payment while PayPal Here takes 2.7%. Another player in the market, Intuit's GoPayment, takes 2.4% of each payment, or...

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