Amazon (AMZN) To Compete With PayPal
August 1, 2007 by Douglas A. McIntyreA report at TechCrunch indicates that Amazon (AMZN) will launch on online payment service to compete with Ebay (EBAY) PayPal and Google (GOOG) Checkout. TechCrunch writes users will be "redirected to Amazon’s servers to complete the payment and then returned to the original site."
Amazon’s size in the e-commerce market makes the report believable. It ranks seventh among US internet sites in terms of unique visitors with 53.3 million in June, just behind Ebay’s 81.2 million uniques.
Google’s Checkout has not been able to take much share from Ebay, but Google is obviously not primarily an e-commerce site. Amazon is and its has relationships to provide infrastructure to a number of other web properties. It could market the service to these clients as well as its own retail customers. That makes it a real threat to PayPal.
Douglas A. McIntyre
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.