Is Amazon Making the Right Move on Mobile Payments?

Is Amazon Making the Right Move on Mobile PaymentsAmazon, critics say, is spreading itself too thin.

These days, the ecommerce hub is extending its service offerings into many diverse directions. From making tablets and smartphones, to launching streaming TV services and now mobile payments platforms, Amazon has become a cosmopolitan company in countless ways.

But is it too much too fast?

Amazon executives say the company is firing on all cylinders, which is why they are proceeding with their newest endeavor — Amazon Local Register, a secure mobile credit card reader and mobile app that provides local businesses with the tools they need to “quickly and easily accept credit and debit cards” from a smartphone or tablet.

Amazon Local Register customers, we’re told, will have access to the customer support team, as well as in-app tracking tools.

“Customers who sign up for Amazon Local Register before October 31 will also receive a low promotional rate of 1.75 percent per card swipe on all major credit and debit cards until January 1, 2016,” Amazon boasts in a promotional push designed to take attention away from the growing list of top competitors in the mobile payments arena.

“From clothing stores to contractors, food trucks to accountants, businesses and organizations using Amazon Local Register will enjoy industry-leading low rates, trusted and secure payment processing, and access to award-winning customer support,” said Matt Swann, Vice President of Amazon Local Commerce. “We understand that every penny and every minute counts, so we want to make accepting payments so easy and inexpensive that it no longer gets in the way of a business owner doing what they love – serving their customers and growing their business.”

So… will Amazon’s mobile payments business pan out? Please weigh in with your thoughts or observations below.