Frequent Miler's latest team challenge, Million Mile Madness, is happening now! Follow us as Greg, Nick, and Stephen compete to earn 1 Million SAS miles by flying 15 airlines before November 23rd. Who will complete the challenge with the most Speed, Affordability, and Style?
Amazon.com is now offering a credit card swipe reader with their new service called Amazon Local Register. Until 2016, Amazon is offering a promotional fee of just 1.75% per swipe. This is a full 1% cheaper than Square and .95% cheaper than PayPal Here. In 2016, the Amazon Local Register rate will increase to 2.5%.
Caution. For those thinking of using this to liquidate gift cards, consider:
1. They will most likely shut down accounts that use the service “not as intended” (this happens frequently with Square, for example).
2. You will receive a 1099-K if you have more than 200 transactions AND $20,000 in gross payments processed through your Amazon Payments account in a calendar year. You can read their tax information here.
Hat Tip: Josh
Never miss a Quick Deal. Subscribe here.
Want to learn more about miles and points? Subscribe to email updates or check out our podcast on your favorite podcast platform.
Does this rule apply for payments thru Google Wallet also? –
You will receive a 1099-K if you have more than 200 transactions AND $20,000 in gross payments processed through your Amazon Payments account in a calendar year.
Good question. I would expect so if you’re using Google Wallet to accept payments.