- The online retail giant may have just stepped into a gold mine with its new Square-like mobile credit card payment system.
- If the app— dubbed Local Register — takes off, Amazon will be sitting a mountain of real life purchase data it could then use to target consumers online.
- Advertisers and data firms can acquire retail data from credit card companies, but Amazon would be the first to offer data at the product level.
Amazon is offering an advantage to smaller retailers with a lower price point and potentially a broader scope of data. So, because of that, there is a real chance Local Register could take off. This is excellent news for Amazon and many advertisers who want to target advertising on the product level. However it would be bad news for any competitors — like Square and other ad exchanges—that can't compete with Amazon's data.