Saturday, October 18th, 2014, 9:20 pm
Update: You can now get this for free with code: 6E94X85QY3
Plus you’ll get your first $10 in credit card processing for free! DEAD!
HT: the great, via DDF
Originally posted on 08/13:
Amazon is going to compete with Square and Paypal Here with their new Secure Card Reader that works iPhones, Samsung Galaxy phones, iPads, and Fire tablets.
The reader costs $10 and comes with $10 in free processing.
There are no monthly fees, chargeback fees, refund fee, foreign card fees, or contracts.
Signup by 10/31/14 and swiped card processing is just 1.75% until 01/01/16. Afterward it goes up to 2.5%.
Keyed-in cards are 2.75%.
If you already have a consumer Amazon Payments account then you’ll want to enroll with a new Amazon account.
But say you want to buy some gift cards to swipe on your register:
-A $200 Visa gift card at Staples costs $206.95 in-store or online.
-If you buy it on a Visa business card you get 1% cash back, dropping the cost of the card down to $204.88.
-If you swipe $200 on your register you’ll be charged $3.50 in fees, leaving you with $196.50.
-The total out of pocket fees are thus $3.50 (Amazon processing fee)+$4.88 (Gift card purchase fee)=$8.38.
-On a card like Ink Plus that earns 5 points per dollar at an office supply store you’ll have earned 1,035 miles for the purchase.
-Your cost per mile is about 0.8 cents each.
That’s like paying $36 for a short-haul flight with BA Avios, $456 for a Singapore suite, $480 to fly round-trip to Israel, $200 to fly round-trip to Hawaii, $120 per night at the Grand Hyatt Baha Mar Bahamas, or $200 per night for the normally $1,500 per night Park Hyatt Maldives.