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Amazon expands into the online payments market

Jun. 09, 2014 4:54 AM ETAmazon.com, Inc. (AMZN) StockEBAY, AMZNBy: Yoel Minkoff, SA News Editor14 Comments
  • Amazon (NASDAQ:AMZN) will expand further into the online payments market today by launching its new role of managing subscription payments - starting with start-ups and other companies.
  • The service will allow more than 240M users to use credit card details stored on Amazon.com to pay for services such as a monthly phone bill or a digital music subscription. Fees will be charged for each transaction.
  • PayPal (NASDAQ:EBAY) is set to feel incoming pressure, as Amazon encroaches on the sector it has long dominated.

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