How Square Overcame Competition from Amazon

It is not uncommon for Amazon to launch new products that subsequently become widely successful; one area where Amazon pulled back was in the payments space; in 2014 Amazon went head to head with Square and according to Jim McKelvey who started the company with Jack Dorsey it was terrifying; Amazon created a very similar card reader and offered it at a fraction of Square’s offering; Amazon’s promotional price was 1.75% per transaction which went up to 2.5%; at the time Square charges 2.75%; however in this case Square won out and after a year Amazon stopped making the product altogether; their existing customers were mailed a Square card reader; CNN shares more about how this story played out. CNN

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.