Amazon : An Innovative Product Or Service

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Amazon has launched a new credit card reader for physical stores called the Amazon local reader. The approach to this new innovative idea has been done to” bolster the online, retailers offline presence and to challenge rivals such as Square”. This is part of the battle to bring new payment technologies and data analyse to bricks and mortar stores. Amazon is the world’s largest e commerce group that has unveiled amazon local register, a system that features a mobile app working alongside a $10.00 card reader that plugs into phone’s or tablets. It allows retail stores to accept debit and credit card transactions. This new move can also provide businesses access to the companies support team, and in app tracking tools, this empowers…show more content…
Amazon are promising customers that if they join up before the 31st October 2014 they will receive a promotional rate charging 1.75% commission on every transactions until January 2016. Then it will go up to 2.50%. At the moment Square and PayPal Here charge 2.75% for each swipe or 3.5% plus 15cents for every manually entered transaction. Whether it is revolutionary (new) or evolutionary (old) innovation and why I believe this is so I believe this product is evolutionary because it has up scaled a competitor’s ideas. In 2010 Square introduced the Card Reader, a 1-inch-square white dongle that plugs into a headset. This then turns any Android, Iphone or pad into a credit card processor. In today’s society more than three million merchants are using this card reader to process there sales but there are merchant fees involved. (ssy,lapsowky,2013) Not long after PayPal cottoned on to the creation and brought out PayPal Here. Pay Pal Here has a little dongle which plugs into your Iphone, Ipad, android or tablet. You need to download the PayPal Here App and then that acts as your card reader allowing the merchant to take payments. There are merchant fees involved with the transaction. Luke hopewell,2104) Amazon has then re worked (i.e.
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