Amazon introduced a Square-like mobile credit card payment system on Wednesday, promising small merchants low transaction fees and the ability to “track sales and get business insights with the app.”

But the promise for Amazon could be far richer. The ecommerce giant, often at odds with small retailers, stands to gain a lot of additional data representing what people buy in the real world if its free Local Register payment app takes off.

Such information could be used by Amazon in multiple ways, such as enhancing profiles of people who buy on Amazon to better target products to them, or to give brand advertisers information that helps them understand what people buy in stores, what they buy online, and where.

Continue reading at AdAge.com

Source: http://adage.com/article/digital/amazon-s-square-payment-system-data-goldmine/294587/?utm_source=Digital&utm_medium=feed&utm_campaign=Feed:+AdvertisingAge/Digital

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