How Rumored Amazon Tablet Credit Card Payment Could Work

Rumors are flying high that Amazon is about to release a new tablet, or potentially two new tablets this fall. Jeff Bezos didn’t even deny this fact in an interview with Consumer Reports.

With the tablet seemingly in development, everyone wants to know what it will look like. The latest rumor, it will include a credit card feature that would let owners swipe their credit cards within the tablet to make payments. Essentially this would make the device a mobile POS.

This week on Quora, a social networking site for questions and answers, members discussed the question, “How will the rumored Amazon Tablet with a built-in Payment Card Reader use the rumored Amazon Retail Payments system?” Some interesting responses circulated.

Brian Roemmele, Alchemist & Metaphysician, wrote: “A Payment Card Reader on an Amazon Tablet device will serve two very different markets at the same time:

  • Consumers– Consumer swiping their own Payment Cards will substantially lower Amazon’s cost for Amazon.com transactions and lower in turn, the cost to the consumer.   This will translate to millions of dollars saved each year.  There are quite a number of other use cases and advantages to the consumer that I can conjecture on also.
  • Businesses– Businesses will have a device that already has a built in card reader with a potentially large numbers of features that are simply not available in the market at this point. With Amazon Retail Payments clearly one of the purposes is to process Payment Cards for businesses.”

Alan Morrison, a former retail industry worker, wrote: “Think of the capability in this way: Anyone with a smartphone can accept a credit card as payment anywhere within cell range. Any end user becomes a potential retailer.”

Nick Mango, Co-Founder of LimitedPressing.com, wrote: “I would attack the restaurant biz with this. Swipe, sign, get the receipt emailed to you. Plus adds you to a newsletter for the restaurant. Maybe they can sell ad space on the email receipt. Lot of things you can do here.”