Amazon Takes on eBay's PayPal With Payments Service

July 29, 2008 at 5:15 pm PT

Amazon.com (AMZN) has quietly launched “Checkout by Amazon,” an e-commerce checkout service for online merchants that is taking on eBay’s (EBAY) PayPal Merchant Services offering, several analysts noted today.

Derek Brown, an analyst with Cantor Fitzgerald who had previously noted that such a service might be in the works, says the new service allows Amazon.com customers to use their stored payment and shipping information on participating merchant sites. He notes that the service provides businesses a way to manage shipping charges, sales tax and promotions, as well as post-sales activities, including refunds, cancellations and charge-backs. Brown, who has a Sell rating on eBAY, says the development “has added to our concerns around eBay shares.”

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Tagged with: Amazon.com, Barrons, Cantor Fitzgerald, Checkout by Amazon, Derek Brown, eBay, Eric Savitz, frontpage, PayPal, Tech Trader Daily

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http://mytechneeds.wordpress.com Fidel Guajardo

Actually I think the biggest competitors to PayPal on a global scale will be mobile payment systems, such as Obopay, integrated into online checkouts. Read about why I think these mobile systems will empower countless micro-retailers to participate in the global online economy. http://mytechneeds.wordpress.com

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