

Amazon credit-card reader poses challenge to Square - SeanDav
http://www.bbc.co.uk/news/technology-28773906

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elsewhen
for a small business that has $500k in gross revenue through credit cards,
this promotion saves them $5k - all of which goes straight to their bottom
line. in most instances, this will probably be compelling enough to convince a
switch. amazon's willingness to hemorrhage money as they move into a new
market is ruthless.

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ch4s3
Seems like a Faustian deal. 5K now so that amazon can use the data to put you
out of business later.

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patrickaljord
I've seen these FUD conspiracy comments posted everywhere today. Not a fan of
amazon in particular myself but I mean, come on, having some data is not
enough to replace whole profitable businesses. Not to mentions all the
restaurants and food trucks that will use this, I don't think amazon will
start opening food trucks everywhere.

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ch4s3
I am of course being a bit hyperbolic. Clearly food trucks, corner stores, and
the like really only have upside here. However, boutique stores that cater
upper-middle class customers may be giving up more than they bargain for by
using Amazon's payment system. Perhaps they should be a bit skeptical.

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ams6110
_Rather than credit the user 's bank directly, the company instead adds the
sum to their Amazon Payments account_

So no, for most small businesses, this will not pose a challenge to Square. I
need my payments in my bank account, not in Amazon's

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skyo
You can always get transfers from your Amazon payments account to your bank
account

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dataminer
Whats the transfer schedule from Amazon payments to the bank account? Square
schedule is next business day.

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virtue3
dude... rtfa

Scheduled Transfer Timing: In order to ensure that the funds are deposited to
your bank account on the next business day, you must set up automatic daily
transfers or manually transfer the funds from you Amazon Payments account to
your bank account by 4 pm local time (4 pm PT for AK and HI). Not all banks
have the ability to receive deposits within one business day. Contact your
bank for details. Reserves may apply, including for manually keyed
transactions.

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dataminer
Thanks dude, I asked the question before the localregister page was linked,
bbc article doesn't mention this information.

