Amazon Undercuts Square with New Mobile Credit Card Payments Service

Amazon Undercuts Square with New Mobile Credit Card Payments Service

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(CNN Money) – When you swipe your credit card at a local business, Amazon wants its cut.

And its new product aims directly at Square, the company started by Twitter co-founder Jack Dorsey.

Amazon Local Register will charge much less than Square: Just 1.75% of the value of each swipe for businesses that sign up by October. It will be 2.5% after that.

Square charges 2.75%.

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