Amazon.com a service originally founded as a traditional bookstore, that has involved into more of a one stop shop ecommerce store, is planning to enter the third party credit card processing market dominated by Paypal. This service is an extension of their Amazon Payments solution which currently allows Amazon third parties to sell products in the Amazon online store. This service is expected to “mimic” some of the features of both Paypal and Google Checkout.
As it stands users will be redirected to Amazon’s website to enter credit card payment and returned to the merchant’s website when the order is completed – similar to the more traditional/older Paypal method and Google checkout’s order entry method.
As with many newer payment solutions this service is also expected to allow merchant’s to manage users and receive order confirmations via email.
As it stands this market is dominated by Paypal with Google struggling for attention and market share, but Amazon may be able to become a major competitor with their existing third party selling feature. Only time will tell whether Amazon.com, or any other third party provider for that matter, can become a viable competitor to Paypal.
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