Amazon rumored to launch credit card reader

Amazon (NASDAQ:AMZN) could be preparing to launch credit card reading hardware in the next few weeks.

According to documents from Staples (NASDAQ:SPLS), the retailer is preparing to carry a new product called the Amazon Card Reader, which will sit on shelves alongside Square, PayPal and Staples' private brand, reported 9to5Mac. The hardware, which will likely connect to smartphones to process payments, will cost $9.99.

The exact launch date is not known, but Staples has been asked to hold off signage related to the Amazon Card Reader until August 12.

Amazon's Lab126 hardware division is also rumored to be developing other mobile payment-related products that focus on biometric fingerprint scanners.

Last month, Amazon launched a Wallet app for smartphones, as well as its first smartphone, the Fire Phone. The phone, four years in the making, includes the Firefly app, which uses the phone's microphone and camera to recognize any real-world product.

For more:
-See this 9to5mac article

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