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Amazon Takes on Paypal

by azsno
41 replies
Amazon is taking on Paypal as their NEW Online Payment Systems Goes "LIVE" today:

https://payments.amazon.com/home

Click Here to Read MORE...

~AzSno...
#amazon #paypal #takes
  • Profile picture of the author Karen Blundell
    I am not at all surprised - payment processing is a lucrative business. I only wonder what took them so long.
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    • Profile picture of the author nmchant
      Originally Posted by Karen Blundell View Post

      I am not at all surprised - payment processing is a lucrative business. I only wonder what took them so long.

      From what I've heard, what took them so long is PayPal did not want Amazon to sell any materials (books etc) of a sexual nature. That's pretty heavy duty censorship if true.

      I have not verified the info but from what i do know of PayPal rules that would be in line with how they do things.
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      • Profile picture of the author agmccall
        Originally Posted by nmchant View Post


        From what I've heard, what took them so long is PayPal did not want Amazon to sell any materials (books etc) of a sexual nature. That's pretty heavy duty censorship if true.

        It is only censorship if the government does it, not private businesses

        al
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  • Profile picture of the author trustedmarketer
    Amazon has the technology and customer service to pull this off and deliver a first class service.

    Originally Posted by azsno View Post

    Amazon is taking on Paypal as their NEW Online Payment Systems Goes "LIVE" today:

    https://payments.amazon.com/home

    Click Here to Read MORE...

    ~AzSno...
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  • Profile picture of the author moneyhd
    Thats a surprising news
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  • Profile picture of the author Robert Puddy
    hmmm that's annoying. US accounts only... still maybe they will offer bank payments in the UK sometime in the next decade
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    • Profile picture of the author waterotter
      Originally Posted by Robert Puddy View Post

      hmmm that's annoying. US accounts only... still maybe they will offer bank payments in the UK sometime in the next decade
      It says "Service available to company's more than 240 million active users around the world".
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      • Profile picture of the author Robert Puddy
        Originally Posted by waterotter View Post

        It says "Service available to company's more than 240 million active users around the world".
        that probably means they accept payments worldwide... that wasn't my point.

        It categorically says that only US bank accounts may be added to an account so the money can be transferred out of amazon.

        which means I can take payments fine, but I cant transfer that money to my UK bank account
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        • Profile picture of the author Ean Stark
          Originally Posted by Robert Puddy View Post

          that probably means they accept payments worldwide... that wasn't my point.

          It categorically says that only US bank accounts may be added to an account so the money can be transferred out of amazon.

          which means I can take payments fine, but I cant transfer that money to my UK bank account
          Well it also seems the country on sign-up page is greyed out on United States, how do people from other countries sign up?
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  • Profile picture of the author RobinInTexas
    Don't know if they'll loosen up their terms for vendors. I've been using my personal paypal and never applied to accept the old Amazon because they required copies of a business license and I forget if there was anything else, I stopped there.
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  • Profile picture of the author dvduval
    Good to see competition in this area. I don't like being tied to one processor, and I think Amazon is used by many. Will probably do better than Google Wallet.
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  • Profile picture of the author Jeffery Moss
    Lack of Paypal integration for purchases is what stopped me from making more Paypal purchases before. I love the ease of being able to login and just make purchases on any site via Paypal.
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  • Profile picture of the author fcf360
    Someone tell me why Amazon.com/Payments is a broken URL link. ????
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  • Profile picture of the author Ryan willi
    I am totally surprised well great competition it defiantly make some change on it to make it easy.
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  • Profile picture of the author viveknanda
    I can recall Amazon kick-starting another such service a couple of years ago and this seems to be a beefed up version of the same.
    The only things that might hurt amazon for sometime will be its expansion strategy and PayPal has its local presence in quite a lot of countries.

    The fee structure for both Amazon and PayPal seem to be exactly the same - boy, they even share the micropayments concept!
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  • Profile picture of the author DeadRooster
    Hmm, the whole user interface seems awful close to PayPal's. I can't believe they would get that close without some kind of partnership. I'm suspicious.
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  • Profile picture of the author ecoverartist
    Interesting...People already know and trust Amazon, so payment processing is a next logical step. Google couldn't pull it off with Wallet because people see them primarily as a search engine. I'll keep a close eye on this to see how it develops! Thanks for sharing!
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    • Profile picture of the author Anonymous Affiliate
      Originally Posted by ecoverartist View Post

      Interesting...People already know and trust Amazon, so payment processing is a next logical step. Google couldn't pull it off with Wallet because people see them primarily as a search engine. I'll keep a close eye on this to see how it develops! Thanks for sharing!
      People dont see Google as a search engine only, nor that has anything to do as of why Google Wallet failed.

      The problem is that Paypal has become a standard: not just a provider of a service, but the paradigm of the service itself, and that is crazy difficult to beat. It is like Coca Cola in the beverages industries: no matter how much money a competitor throws in, Coke will always be the industry standard in people's mind.

      Everybody has a Paypal account and it gets the job done perfectly. What is the competitive advantage of Amazon? Why would hundreds of millions of people switch from the established benchmark to another me-too solution?

      I hope Amazon makes it big because Paypal truly needs some competition, but they have a VERY steep journey ahead.
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      • Profile picture of the author buysellbrowse
        Originally Posted by Anonymous Affiliate View Post

        Everybody has a Paypal account and it gets the job done perfectly. What is the competitive advantage of Amazon? Why would hundreds of millions of people switch from the established benchmark to another me-too solution?
        Not everyone has a PayPal account. You can only spend a little money with your credit card before the greedy pals want to "verify" your bank account and draw money directly from it.
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  • Profile picture of the author SEOJerry
    Amazon is a good company and there needs to be a good alternative to PayPal. Hopefully they can make it happen.
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  • Profile picture of the author Adie
    Good news. I hope it wll be available to all accounts soon.
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  • Profile picture of the author NK
    Finally! Been waiting for this to happen for years, although since it's still restricted to US only so I still can't use it...

    Hopefully they'll expand the list to include more countries soon. Would really be annoying if I have to wait another 4-5 years before I get to use Paypal with Amazon.
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    • Profile picture of the author Samuel Adams
      Originally Posted by NK View Post

      Finally! Been waiting for this to happen for years, although since it's still restricted to US only so I still can't use it...

      Hopefully they'll expand the list to include more countries soon. Would really be annoying if I have to wait another 4-5 years before I get to use Paypal with Amazon.
      Amazon is a huge company, so if this has positive response from customers, it's possible they could offer this to non US customers sooner. Perhaps if a petition was started asking for this option.
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  • Profile picture of the author beasty513
    I knew that eventually Amazon would get involved with

    payment processing as it can be quite some source of revenue.


    Good to see them stepping up.
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  • Profile picture of the author travlinguy
    Soon they'll be paying authors and their affiliates through their own system. Will they be taking a cut?
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  • Profile picture of the author ceenote100
    Amazon sure has balls competing with PayPal. I had a feeling they were going to do this but PayPal is already established big time. Amazon will have a long way to go.
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  • Profile picture of the author OliveTree
    This is amazing news. Looking forward to following this. It's true...what took them so long..!
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    • Profile picture of the author Nuno
      Companies like Kickstarter depend on Amazon Payments, so when these expand to more countries... I'll be happy.
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  • Profile picture of the author MikeLantz
    Amazon has had a payments solution for years -- that is not what is news here.

    What Amazon just released is a solution for recurring payments.

    I really like Amazon, but this thread is a perfect example of the problem they will have -- most of you (all?) thought this was a totally new service, when it has been around since 2010. So 4 years, and you arent seeing this used hardly anywhere, right?

    Amazon has a big advantage of having lots of payment info for lots of buyers, but with new upstarts like Stripe, and Paypal really trying hard to be more friendly to developers, etc... this may never make it.

    We'll see!

    Mike
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  • Profile picture of the author ronrule
    Amazon actually contacted me about this last Friday, they were offering a pretty good deal to implement it (basically next to nothing transaction costs). I declined... this is part of their funnel.

    PayPal makes their money based on your transaction fees, Amazon could care less about transaction fees - for them it's all about data-driven marketing. They want to know what your customers are buying, so they can figure out other products to sell them. No thanks Handing over data on 2 million customers to Amazon isn't something that will be happening unless they're writing me a $200 million check.

    For a smaller site it's probably a good deal.
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    • Profile picture of the author OliveTree
      Originally Posted by ronrule View Post

      Amazon actually contacted me about this last Friday, they were offering a pretty good deal to implement it (basically next to nothing transaction costs). I declined... this is part of their funnel.

      PayPal makes their money based on your transaction fees, Amazon could care less about transaction fees - for them it's all about data-driven marketing. They want to know what your customers are buying, so they can figure out other products to sell them. No thanks Handing over data on 2 million customers to Amazon isn't something that will be happening unless they're writing me a $200 million check.

      For a smaller site it's probably a good deal.
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  • Profile picture of the author ecoverbee20
    It wont be long till Amazon rule the world.

    PayPal needs some competition, hopefully lower the charges
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  • Profile picture of the author DeePower
    Amazon says its payment method is not appropriate for digital goods.

    Dee
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  • Profile picture of the author Ghoster
    Competition in this space will be great. PayPal is annoying.

    Additionally, Gmail now has a "Send Money" button in the "Compose Message" window. I don't know if it's showing up for all members. Looks like they are expanding their Google Wallet service.
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    • Profile picture of the author jkingston
      Any comments on how Square's new payment system fits in? Free money transfers. I've used it and have no idea how they're going to keep it free for long...
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  • Profile picture of the author HelpingYouBeAnExpert
    I know most people disagree but monopoly is bad and competition and disorder is good!
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    • Profile picture of the author mrmugabe
      Out of curiosity how much do you guys care about a companies rep, paypal is known for freezing accounts to accumulate profits off interest payments and amazon is one of the biggest tax dodgers in history.

      if a company was to come along, an ethical payment processor, i wonder if that would sway your allegiance?
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      • Profile picture of the author azsno
        Originally Posted by mrmugabe View Post

        Out of curiosity how much do you guys care about a companies rep, paypal is known for freezing accounts to accumulate profits off interest payments and amazon is one of the biggest tax dodgers in history.

        if a company was to come along, an ethical payment processor, i wonder if that would sway your allegiance?
        How can you just state without ANY proof that Amazon is one of the "biggest tax dodgers" in history? Why don't you preface that with "it's My Opinion" or "IMHO" - Just making a blanket statement like that shows how ignorant you are of the FACTS of PUBLIC Companies and how they operate in the US....

        Amazon is a PUBLIC company and is traded daily on NASDAQ (AMZN), they are scrutinized by both the Federal Government AND their stockholders...If they're cheating on their taxes, then it would be discovered in their quarterly income statements they are REQUIRED to file with the FEDS every 90 days....PUBLIC companies that cheat and LIE on their income statements ALWAYS get found out and are prosecuted (i.e. ENRON, the MORTGAGE MESS, Wall Street Giants, etc.)

        Just say you don't LIKE Amazon or state your opinion, just blurting out STUPID statements like the above shows you have NO Idea what you're talking about....

        IMHO, ~AzSno...
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  • Profile picture of the author RobinInTexas
    It's kind of like professional wrestling in slow motion, everybody is trying to match PayPal's success, but nobody is getting it right.
    PayPal Gets Competition From U.S. Banks and Other News You May Have Missed - MyBankTracker.com

    There's even some rumblings from over a dozen years ago, PayPal Runs Up Against Competition - Forbes but just like CocaCola's recipe, the magic is hidden and nobody has found a way to go head to head with PayPal.
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