Amazon unveils card payment reader, challenging Square

US online giant Amazon unveiled a new payment card reader for mobile devices Wednesday in challenging a system pioneered by Square. The e-commerce giant unveiled its "Amazon Local Register,’ described as ‘a secure card reader and mobile app that provides local businesses with the tools they need to quickly and easily accept credit and debit cards from a smartphone or tablet and keep track of their growing business.’ The move expands Amazon's efforts to gain a foothold in the payments business in addition to its traditional role as a retailer. Amazon launched its payment service last year, allowing people to make one-time payments to third parties and later unveiled a system for recurring payments. With the card reader, Amazon will get a 2.5 per cent commission on sales, but is offering a promotional rate of 1.75 per cent for customers who sign up by October 31, a rate that will remain in place until 2016, according to AFP.