Amazon surrendered its payment product and mailed Square readers to merchants
Jim McKelvey · Square: Jim McKelvey. He Lost a $2,000 Sale, Then Built a $10 Billion Company · Feb 23, 2026 · at 1:05:34
Square co-founder Jim McKelvey discusses how Amazon attempted to undercut Square on fees in 2014 before abandoning the product and referring customers to Square.
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“And it failed so badly that Amazon gave us all their soon-to-be former customers and mailed them a Square reader and said, we're out, go to Square.”
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