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Amazon Local Register

localregister.amazon.com

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Re: Amazon Local Register

#171

Post by gfodor »

jack-r-abbit wrote: post #114
gfodor wrote: post #109

Earlier quoted context omitted.

Obviously Amazon is different, because unlike credit card companies they are in the business of competing with small retailers. Particularly when you consider their "your margin is my opportunity" strategy giving this data to them should be a terrifying proposition for any business owner.

But there are so many places that Amazon does not compete with that there is a market for this. Obviously a small book store might not want to do this but what about restaurants, coffee shops, the plumber that comes to fix your toilet (or any service industry), the local tap room, and so on. Edit: Sorry, the idea of Amazon opening restaurants, coffee shops or tap rooms (which would also mean they start brewing their…

Yeah I don't disagree with you here, just pointing out that a small business owner who does compete with Amazon should maybe think twice before being attracted to the competitive rate compared to Square.

Re: Amazon Local Register

#172

Post by ddispaltro »

PeterisP wrote: post #77
chrisan wrote: post #29

Does anyone know the true bottom to transaction fees? Are they taking a loss at 1.75% to acquire user base?

Large volume can get costs of infrastructure per transaction absurdly low; the true floor is the interchange rate that you pay to the card issuer; it depends on type of card but it can be ~1% for many of them. American express is much higher, taking amex at 1.75% is definitely a loss.

I've always wondered what kind of deal Costco did with American Express to make it the only accepted credit card. It's probably membership + exclusivity that allows AMEX to have much lower fraud and therefore pass on the savings to Costco.

Re: Amazon Local Register

#173

Post by elsewhen »

res0nat0r wrote: post #145
djrogers wrote: post #102

Earlier quoted context omitted.

If Amazon made money off 'almost all' of the products it's rolling out, it wouldn't be posting record losses every quarter and attributing it to those money-losing products.

They are "losing money" because they keep reinvesting all of their profits to facilitate all of these new products they keep turning out, and the market doesn't like it.

$150B market cap. 800%+ cumulative gain over last ten years. I think the market is liking Amazon's strategy thus far.

Re: Amazon Local Register

#176

Post by gventures »

We sold them the localregister.com platform over 12 months ago after 7 years of development. They are going to crush it as they have with scale, speed and everything that makes amazon, amazon. It helped put our Contrib, Domain Holdings and Global Ventures companies into a great position with future integration of our customers using the currency movement system. They will eventually integrate across all platforms quickly starting with localregister.com. Gotta love competition, makes our world great

Re: Amazon Local Register

#177

Post by gventures »

LocalRegister.com to amazon was a great transaction for our team at Domain Holdings and Global Ventures. We are glad we can finally analyze this transaction and show others how key your url asset is and the potential technology and business models still to come for the domain channel.. Check out Contrib or BidTellect, two other up and coming platforms in good hands with big announcements soon.

Re: Amazon Local Register

#178

Post by crazy1van »

whitenoise wrote: post #165

[1]"Make sure the microphone on your device is turned on". I am not familiar with the card reader hardware. Why is a microphone needed for processing a credit card swipe? [1] - http://localregister.amazon.com/help/201549190/swiping-a-car...

I believe it plugs into the audio jack. The device captures a swipe as audio data as if it were a microphone and the software interprets the audio as magnetic stripe data.

Re: Amazon Local Register

#179

Post by B5geek »

jack-r-abbit wrote: post #114
gfodor wrote: post #109

Earlier quoted context omitted.

Obviously Amazon is different, because unlike credit card companies they are in the business of competing with small retailers. Particularly when you consider their "your margin is my opportunity" strategy giving this data to them should be a terrifying proposition for any business owner.

But there are so many places that Amazon does not compete with that there is a market for this. Obviously a small book store might not want to do this but what about restaurants, coffee shops, the plumber that comes to fix your toilet (or any service industry), the local tap room, and so on. Edit: Sorry, the idea of Amazon opening restaurants, coffee shops or tap rooms (which would also mean they start brewing their…

Demolition Man not Judge Dredd. --Enhance your calm John Spartan.

Re: Amazon Local Register

#180

Post by burnte »

whitenoise wrote: post #165

[1]"Make sure the microphone on your device is turned on". I am not familiar with the card reader hardware. Why is a microphone needed for processing a credit card swipe? [1] - http://localregister.amazon.com/help/201549190/swiping-a-car...

The reader inputs the data from the magstripe as audio data. The data on the stripe can be interpreted as audio data, and it is, piped in via the microphone part of the TRRS connector on the reader, just like your headset.
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