Amazon introduces mobile card reader to compete with Square, PayPal

Amazon.com has introduced a card reader coupled with smartphone and tablet apps that aim to provide small businesses with a way to accept payments on these devices.

The product marks a move into territory roamed by competitors Square, Intuit and PayPal, according to PCWorld.

To compete, Amazon is offering its first round of customers a protional rate of 1.75 percent per card swipe through Dec. 31, 2015. After that, they would pay 2.5 percent per swipe.

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