Boston, MA 08/14/2014 (wallstreetpr) – Amazon.com, Inc. (NASDAQ:AMZN) has not been looking stable, financially especially after posting a second-quarter loss 126 Million despite an increase in Revenue. The company has already dented its image, as a result, of the ongoing tussle with Hachette book publisher and the ongoing standoff with The Walt Disney Company (NYSE:DIS). Investors have in the recent past aired their disgust on the company for posting losses despite controlling a huge market share in the online platform.
Amazon’s ‘Local Register’
Despite the ravaging woes, Amazon.com, Inc. (NASDAQ:AMZN) has decided to rival the likes of eBay Inc. (NASDAQ:EBAY)’s PayPal and Square with its own mobile and tablet payment system ‘Local Register.’ Amazon looks to have been attracted by the lucrative nature of the division of which PayPal has enjoyed immense success over the years. Amazon now hopes to capture the attention of small businesses with its $10 credit card leader and mobile application.
The application can be downloaded’ from Amazon Appstore as well as Apple store and Google Play. Amazon.com, Inc. (NASDAQ:AMZN)’s Local Register will be competing directly against PayPal and Square in charging businesses cheaper fees for services rendered. Local register also comes with business tools that will go a long way in allowing business owners keep track of the growth of their businesses, as well as sales trends.
Transaction rate for the card reader for people who register prior to October 1st will stand at 1.75%, for all transactions running till January 1st 2016. Amazon plans to charge 2.5% flat rate which is still lower compared to the likes of Square’s at 2.75% and PayPals at 2.70-% after the expiry of the first offer.
The entry into the mobile payment system could be a huge leap for Amazon.com, Inc. (NASDAQ:AMZN) especially for its stock that might receive a bullish reaction from Wall Street due the development of another revenue stream. There has been predictions that mobile payment transactions could grow to, three-quarters of a trillion, in transactions by 2017 something that could have an impact on Amazon should it gain substantial amount of Market share on the same.
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