Amazon Local Register - Swipe credit cards for 1.75%

[ShlockDoc]

Amazon launched their own smart phone credit card processor today, Amazon Local Register.

Some highlights:

• Accept credit and debit cards for a low, flat rate with no hidden fees – no administrative charges, no fees for chargebacks or for accepting international credit cards.
• 1.75% processing fees until January 2016 if you sign up by 10/31/14.  Very interesting.
• Reader costs $10 but they will credit your account $10 of processing fees so it's really free.
• Deposits to your bank account the next business day. Or spend your money at Amazon.com within minutes.
• Must have, or create a business amazon payments account

http://localregister.amazon.com/

[Alexsei]

Credit pull?

[dpeikes]

Anyone know if you get the 3% on the Chase Amazon.com Rewards Visa Card when charging through Amazon Local Register.  I am guessing not, but if it works it would be a money maker.  Just ordered the register.  Waiting to see if anyone knows before I apply for another card.

http://www.amazon.com/gp/product/B009AMF5XG/ref=oh_aui_detailpage_o00_s00?ie=UTF8&psc=1
•Accept all major cards for 1.75% per swipe until January 1, 2016 (limited time offer). No hidden fees.
•$10 processing credit will offset the first $10 of processing fees we charge.
•Works with Fire tablets, iPhone, iPad, and select Android phones.
•Powerful, at-a-glance insights into how your business is doing.
•Fast deposits to your bank account.


https://creditcards.chase.com/credit-cards/amazon-credit-card.aspx?CELL=63WS&F42G=Y71UH0&S81H=Y71UH0&SB4R=FH24R8&SP4R=FH24R8&
3% Back: You will earn 3% back for each $1 of eligible Net Purchases made at Amazon.com. 3% Back applies only to purchases made at Amazon.com (including digital downloads, Amazon.com Gift Cards, Amazon Fresh orders, Amazon Prime subscription, and items sold by third-party merchants through Amazon.com's marketplace). 3% Back does not apply to purchases made at Amazon.co.uk, Amazon.de, Amazon.fr, Amazon.co.jp, Amazon.ca, or any other website operated by Amazon.com, its affiliates and subsidiaries. 2

[ChaimMoskowitz]

1099 at no extra cost. 

[Marco Polo]

1099 at no extra cost. 

I think they have the same "rules" as with AP. 200 transactions or $20,000. If one stays below that, they can probably skirt getting one.

[Dan]

Only in your dreams.

[bubbles]

What's wrong with gift cards?

[Marco Polo]

I think Dan was referring to the Chase Amazon 3% card.


I would be careful with trying to abuse this feature if you use/value AP and/or use Amazon for purchases.

[dpeikes]

Only in your dreams.

Agreed, I know

[bubbles]

I was asking OP

As to your second point, agreed

[Saver2000]

I was asking OP

As to your second point, agreed

GC's don't give 3%.

[coralsnake]

Keep in mind that manually entered cards are still 2.75%!!!!
You NEED the reader.

1. 1.75% introductory rate applies only to card swipe transactions processed through the Amazon Payments account used to sign up for Amazon Local Register. Accounts that sign up after October 31, 2014 are subject to the standard rate for swiped transactions of 2.5%. Manually entered card transactions are subject to the standard rate of 2.75%. Beginning on Jan. 1, 2016, standard rates will apply to all transactions.

[Chapshnell]

Dan, are you getting one? Curious what the pro is doing here...

[@Yehuda]

Not so exciting. My friend got his Square account locked for just trying a $1000 swipe from a CC that was under his name. They're not stupid, this is not going to be the next big MS.

[Dan]

Keep in mind that manually entered cards are still 2.75%!!!!
You NEED the reader.

1. 1.75% introductory rate applies only to card swipe transactions processed through the Amazon Payments account used to sign up for Amazon Local Register. Accounts that sign up after October 31, 2014 are subject to the standard rate for swiped transactions of 2.5%. Manually entered card transactions are subject to the standard rate of 2.75%. Beginning on Jan. 1, 2016, standard rates will apply to all transactions.

Wow, haven't seen around these part in a while!

[Saver2000]

Not so exciting. My friend got his Square account locked for just trying a $1000 swipe from a CC that was under his name. They're not stupid, this is not going to be the next big MS.

Square is knows for that. Your friend shouldve checked out ddf first.

The idea is to swipe gcs.   

[etech0]

The idea is to swipe gcs.

They don't shut you down for that?

[@Yehuda]

Square is knows for that. Your friend shouldve checked out ddf first.

The idea is to swipe gcs.

So then this is a replacement for having to go to WM. Except as people said $20K in a year is a 1099.

[Saver2000]

So then this is a replacement for having to go to WM. Except as people said $20K in a year is a 1099.

More like a replacement for AP.

[Marco Polo]

So then this is a replacement for having to go to WM. Except as people said $20K in a year is a 1099.

Not sure it is a replacement, but rather an additional venue to cash out at a 1.75% rate.

More like a replacement for AP.

Why would this replace AP? AP is free, while this has a fee.