Amazon stops Register, the rival of Square
About a year ago Amazon announced his competitor of Square, named Register, similar to one of the products of the competing company. As usual, Amazon is trying to attract part of Square’s existing customers with a lower commission rate: 2.5% vs. 2.75%, while later and 1.75% of promotional prices. You probably know that devices such as the Register enable small and medium businesses to accept card payments without investing large sums in the terminals.
Unfortunately for Jeff Bezos price that Amazon offers is so low that the company posted a profit from the service and even operate at a loss. We have no official information comparing the market share of the Square and the Amazon, but the first seems to be doing well, especially considering that Jack Dorsey insists on remaining its CEO, though he joined Twitter.