updated 07:24 am EST, Thu January 30, 2014
Systems consisting of Kindle Fire tablet, card reader could head to stores this summer
A pair of reports claim that Amazon is moving further into the payments market, from two different directions. One plan involves offering retail stores a point-of-sale system using Kindle tablets, while another involves the creation of a system for person-to-person payments, in a similar service to that currently offered by payment processing competitor PayPal.
The Wall Street Journal reports that the Kindle tablets would be fitted with credit card readers, just like existing iPad-based checkout systems and devices fitted with the Square card reader. Technology and engineers acquired from startup GoPago could have been involved in the system's creation, which could be offered to retailers alongside other services, such as website creation and analyzing the shopping patterns of the store's customers.
Even though this would compete against existing point-of-sale systems and new products from larger technology companies, like PayPal Beacon, it is believed Amazon could offer the Kindle tablet-based checkout system to retailers in the United States by this summer.
Amazon Kindle Fire HDX 8.9
The P2P payment system, reported by TechCrunch, would in theory allow users to directly send fund to each other, bypassing other payment systems in the process. Job postings on the Amazon website ask for developers and program managers involved with e-commerce, and directly names one of the services a team is working on as "person-to-person (P2P) payments."
A P2P payment system would be a natural progression from its existing business-oriented payments services, and would allow it to get involved in offline transactions between individuals, something it cannot easily do through its traditional retailer system. It could also get Amazon involved in offering professional services through its marketplace, instead of selling goods, and it is suggested it could effectively turn Amazon into a form of bank for people that do not have or cannot receive normal banking services.