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Square goes on the defensive in light of Amazon Local Register

The mPOS provider addressed in a blog post what it called myths about it pricing, service and a number of other issues.

August 15, 2014

Square addressed what it called myths about its products and services a day after Amazon grabbed headlines after the online retailer released a competing mobile point-of-sale reader.

"There's a lot of misinformation out there about Square. So let's set the record straight. Below are ten myths about Square, and why they're totally bogus," the blog began in its introduction.

Square discussed its fee structure, customer service and attempted to quell rumors that its overall business is struggling. 

"We're well-capitalized and putting our money to good use: investing in people and new products. Reports that we tried to sell the company, or of a delayed IPO? False. We’re here for the long-term," the company wrote on the blog. 

Amazon Wednesday released Amazon Local Register, a mobile card reader similar to offerings from Square, PayPal, ROAM and others. The company's initial promotion rate is 1.75 percent for each swipe for merchants who sign up by Oct. 31. That rate is good until the end of 2015. Merchants then pay a rate of 2.5 percent.