Amazon takes on Square and PayPal with new Local Register credit card reader

Amazon has just launched Amazon Local Register, its very own mobile credit card processing service that competes with the likes of Square Register and PayPal Here. Amazon Local Register is designed to work with its official card reader hardware and companion software for mobile devices. With the service, merchants can link their Amazon Payments accounts and use the reader and the app to accept credit card payments right on their tablets or smartphones, including iOS devices. Amazon Local Register has the following key features:

Take credit and debit card payments

Record cash transactions

Customize your register with saved product images and prices

Give customers printed or e-mail receipts

Customize tax, tips, and signature settings

Easily issue full and partial refunds or resend receipts

Password-protect sensitive account information and sales reports

No monthly fee or fees for processing chargebacks

If you can't see the video embedded above, please click here. The Amazon Local Register card reader is available now on Amazon's website for $10. The Amazon Local Register app, which is compatible with iPhone, iPod touch, and iPad running iOS 7.0 or later, is out now on the App Store for free. Amazon Local Register accepts Visa, MasterCard, American Express, and Discover credit and debit cards. As noted in the promo video above, merchants who sign up for the service by Oct. 31, 2014, can lock in a special rate of 1.75 percent per swipe through Dec. 31, 2015. The regular charge is set at 2.5 percent per swipe.