Small business owners may soon have one more way to process credit cards. Amazon is planning to launch a credit card processing system that will use its Kindle Fire tablets in conjunction with a physical card-reader attachment, according to the Wall Street Journal. It could be a solid alternative to contenders such as Square and PayPal, which already offer mobile credit card processing services.
Amazon's offering could include the ability for small merchants to offer promotions through Amazon.com to draw in customers, according to reports. Details about the new system from the online retail giant are scarce, but reports indicate the mobile credit card reader could launch as early as this summer. If your small business doesn't accept credit cards, you are missing out on sales, and Amazon seems primed to launch one more solid option.
Existing mobile credit card processing services, such as Square Register and PayPal Here, work like this: First, you download an app for your iPhone, iPad or Android device, and then you request a free dongle that attaches directly to your mobile device via the headphone jack or charger port. Customers can swipe their credit card directly through the dongle to complete a transaction. The smallest businesses have the most to gain by opting for mobile credit card readers, which are cheaper and far more portable than traditional options.