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New Amazon Payment Portal competing with Paypal?

by Auctiondebteliminator
6 replies
So Amazon just announced today that they are starting a payment portal to directly compete with Square and Paypal.

The fees are quite low, as they cite 'Every penny matters in business.'

I, for one, am ecstatic, as this seems like a great opportunity.

My question to you is: What do you predict is Facebook's move?

Here's the article for reference:

Amazon Ups Stakes In Payments War, Undercuts Square And PayPal - Forbes
#amazon #competing #payment #paypal #portal
  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by Auctiondebteliminator View Post

    So Amazon just announced today that they are starting a payment portal to directly compete with Square and Paypal.
    Not so much with PayPal.

    Only with "PayPal Here", I think?

    It's a card-reader/swipe point-of-sale payment processor, for physical credit-cards, not an online payment system? I don't suggest that necessarily makes it insignificant, of course, but there are thousands of those.

    (I thought Amazon already had an online one, for Amazon account-holders? I've never used it ...).

    .
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    • Profile picture of the author Auctiondebteliminator
      Originally Posted by Alexa Smith View Post

      Not so much with PayPal.

      Only with "PayPal Here", I think?

      It's a card-reader/swipe point-of-sale payment processor, for physical credit-cards, not an online payment system?

      .
      If it doesn't have online processing right now, I can see it having it in the future really quick. Especially with all the sellers they have.


      In addition, if they don't have it now - I can see an API access giving a savvy computer programmer that ability.

      -ADE-
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    • Profile picture of the author Mike Anthony
      its both

      https://payments.amazon.com/merchant


      the news was the card reader part but its been a competitor to paypal payments for awhile now.
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  • Profile picture of the author Auctiondebteliminator
    My first indication of the news (as I use card readers all the time) was that my Amazon stock was up by 3% today.

    I can also see PayPal needing to mitigate the competition by lowering their price structure - perhaps - which will be good for my eBay business.

    My next prediction is that Facebook is wanting to see what Amazon did first before it jumped into the part to see how it could then undercut them all.
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  • Profile picture of the author Everett and Carol
    I keep waiting for a company to make a strong move towards taking away market share from PayPal, hopefully this is it.
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  • Profile picture of the author GowebMkt
    So do the funds sit in our 'Amazon account' until we move them to our business checking account with our bank?
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