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Amazon Launches Mobile Payment Service

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Amazon.com announced the launch of Amazon Local Register, a mobile payment service.

In order to use the service, you’ll need to download an app and then add a card reader provided by Amazon to your tablet or iOS or Android smartphone, reports The Wall Street Journal

. All major credit cards are accepted by the card reader.

You’ll have to pay a fee for each transaction, but early birds get a reward. If you sign up for the service before Oct. 31, you’ll get a rate of 1.75% per swipe until Jan. 1, 2016.

If you’re late to the party, you lose out. Sign up after Oct. 31 and you’ll be charged a 2.5%, transaction fee. This, however, is less than Square’s 2.75% fee and PayPals’s 2.7% fee.

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