Amazon launches Square and Paypal competitor | RetailDetail

Amazon launches Square and Paypal competitor

Amazon launches Square and Paypal competitor

Amazon has launched a mobile payment service for physical stores. World's largest online department store is not in it for the money per say, but would like to get more information about consumer spending.

Cheaper than PayPal and Square

'Local Register' is how Amazon has called its mobile payment service and it uses a card reader attached to a consumer's smartphone or tablet. With the appropriate app, consumers would be able to pay through their credit card.


Amazon is hoping to lure American retailers into the new system with lower commissions than its competitors. It only charges 1.75 % while PayPal uses 2.7 % and Square asks for 2.75 %. The lower rate only applies to those that join before October, because from that moment on, it will charge 2.5 % - which is still the cheapest of the three.


"Amazon will not earn money through the payment transactions", according to a specialized consultant in The Wall Street Journal. According to him, Amazon is mostly interested in information about consumer spending in physical stores - especially as these still represent 90 % of all American purchases.

Questions or comments? Please feel free to contact the editors

German Otto Group continues to soar


German online company Otto Group saw its turnover grow 10.9 % to 7.76 billion euro in the past fiscal year. The former mail order company will continue to invest in start-ups and technology.

Decent profit increase for


Chinese online retailer has grown strongly in 2017: turnover grew nearly 50 % and it was profitable again. The company also expects to exceed a 30 % growth pace in 2018’s first quarter.

Rakuten ditches Priceminister brand


Rakuten has decided to get rid of its French brand Priceminister and absorb it into Rakuten, similar to what it did tot British acquires Eastern European competitors


Fast food supplier acquired its Bulgarian competitor BGmenu and its Romanian competitor Oliviera in yet another step towards its goal of being the European market leader.

Colruyt joins PostNL's grocery service


The mailman will deliver groceries every two weeks from now on: PostNL will collaborate with new grocery service Stockon in the Netherlands. A remarkable fact is that its private label brands are Boni, which is Belgian supermarket chain Colruyt’s private label.

Strong growth for Chinese e-commerce once again


There was another strong increase in the Chinese online market last year: compared to 2016, it achieved an astonishing 32 % growth. In that regard, China is performing exceptionally online.

Back to top