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  • WASHINGTON (8/14/14)--Move over Square, Amazon has entered the mobile-payments market. On Wednesday, the online-shopping giant announced a new service called Amazon Local Register that will allow businesses to accept credit card and debit card transactions with their smartphones or tablets ( The Wall Street Journal Aug. 13). The company hopes to quickly gobble up market share in the mobile-payments industry by undercutting competitors with hard-to-beat pricing. According to The Wall Street Journal , users who sign up prior to Oct. 31 will receive a promotional-transaction rate of 1.7% on all transactions until Jan. 1, 2016. Currently, Square charges businesses using its mobile-payment equipment 2.75% per payment. PayPal, who also owns a share of the market, charges 2.7%. While Square has grown substantially since introducing its technology into the market, the company has yet to amass broad profit, in large part due to its thin margins, The Wall Street Journal reported...


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