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Amazon launches PayPal rival; PayPal adds QR code payment option

  • Amazon (AMZN -2.4%), which already offers a home-grown online payments platform for orders placed on its site/apps, is launching Login and Pay with Amazon, a service that (as its name implies) lets shoppers pay for purchases on 3rd-party sites by logging in with their Amazon accounts. (PR)
  • The service is aimed squarely at PayPal (EBAY -3%), which processed $29.8B in transactions on non-eBay sites in Q2 (70% of its total), and just expanded its reach by acquiring Braintree. Like PayPal, Amazon's pricing starts at 2.9% + $0.30/transaction.
  • PayPal has fought off competition from Google and other big Internet names. However, Amazon has 215M+ active customer accounts it can leverage to make a dent, and (judging by the company's description of its service) might be able to offer better on-site integration than PayPal.
  • Meanwhile, PayPal, which added several new offline payment tools and features to its mobile apps last month (I, II), has just announced one more: the ability to pay by having a QR code scanned. Aware this option isn't more convenient than swiping a credit card, PayPal suggests its real value comes from giving users the ability to redeem promotions and gift cards.
  • Both Amazon and eBay are selling off on a bad day for Internet stocks.
Comments (7)
  • Awesome if they make it easy like Google Payments.
    8 Oct 2013, 02:43 PM Reply Like
  • AMZ has been doing this for quite some time on their site for offsite retailers. Are they promoting this as "new"?
    8 Oct 2013, 03:43 PM Reply Like
  • Perhaps you should read up. Yes this is new - it is not about Amazon's web site.
    8 Oct 2013, 03:52 PM Reply Like
  • everyone can do this. EBAY, GOOG, and now AMZN. The winners are V and MA :)
    8 Oct 2013, 05:49 PM Reply Like
  • No V and MA get used on a website in any case. duh
    8 Oct 2013, 06:05 PM Reply Like
  • " No V and MA get used on a website in any case. duh "

     

    I think you miss the point of these services, but ok. The whole point of them is to avoid having to type your number in. Whether it's GOOG, EBAY or AMZN, it will end up being DFS, AXP, V or MA actually processing the transaction
    8 Oct 2013, 06:34 PM Reply Like
  • "The whole point of them is to avoid having to type your number in."

     

    Well now that's a horse of a different color isn't it? Forgive give me for missing the point of what you meant to say.
    8 Oct 2013, 06:47 PM Reply Like
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