April 2007 - 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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