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Amazon expands into the online payments market

  • Amazon (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 (EBAY) is set to feel incoming pressure, as Amazon encroaches on the sector it has long dominated.
Comments (14)
  • leopardtrader
    , contributor
    Comments (859) | Send Message
     
    AMZN $500+ ? I think so
    9 Jun, 05:19 AM Reply Like
  • chopchop0
    , contributor
    Comments (3122) | Send Message
     
    Hardly. It's a crowded space. There is Mastercard's MasterPass system, V.me from Visa. People have speculated AAPL may enter this arena as well.
    9 Jun, 09:40 AM Reply Like
  • Patent News
    , contributor
    Comments (1312) | Send Message
     
    good idea. paypal/ebay are in trouble.
    9 Jun, 06:28 AM Reply Like
  • Leftfield
    , contributor
    Comments (3752) | Send Message
     
    Looks like Icahn was right: Ebay should have sold Paypal while it had a virtual monopoly on online payments. Looming competition in the near future would have been apparent to any corporate management, but apparently it wasn't to John Donahoe and the Ebay BOD.
    9 Jun, 07:29 AM Reply Like
  • leopardtrader
    , contributor
    Comments (859) | Send Message
     
    Icahn & Elon Musk have been right that Paypal should be spun off Ebay. John Donohoe (of course) doesnt get it or not a visionary required to run a dynamic tech company in this century
    9 Jun, 07:46 AM Reply Like
  • Mechano Man
    , contributor
    Comments (4) | Send Message
     
    Seems to be an excellent alternative to Paypal. In logging onto their site, Paypal users are being told to change their passwords. After months passed, Ebay finally told users that their information was compromised. Users were then told to change their passwords. Paypal, owned by eBay, was probably hacked, as well. eBay is just taking it's usual time in letting Paypal users know that they also have their information stolen. Using Amazon's new payment service is going to be a 'no-brainer' to these soon-to-be-former Paypal users.
    9 Jun, 09:26 AM Reply Like
  • $vix
    , contributor
    Comments (419) | Send Message
     
    Customer's data have been hacked on Amazon many times. Amazon's payment system has been around for a while and it has not been very successful.
    I have been using PayPal for many, many years without issue. Its a high quality company who back their service and has excellent customer service. I have no desire to switch, especially into a company such as Amazon
    9 Jun, 01:19 PM Reply Like
  • Mechano Man
    , contributor
    Comments (4) | Send Message
     
    Wow - how is it that 'the street' never heard about Amazon being hacked -- especially the numerous times that you state? I guess it's a cover-up. Imagine that! An aside: David Marcus of Paypal sees the chaos and indecision on the sinking ship of eBay, under CEO Donahoe, and decides to jump ship to Facebook to survive. It looks like the beginning of the end for eBay/Paypal. The stock has not done anything. Icahn was right - as they keep on postponing the inevitable eBay/Paypal split there's just more value lost for shareholders.
    10 Jun, 01:38 AM Reply Like
  • BLONDE FIRE
    , contributor
    Comments (3) | Send Message
     
    Paypal is hardly a "high quality company" with "...excellent customer service..."! If you ever really used them and talked to their customer service, you'd well know how disdainful they are of their customers. Well, now their piece of the pie is smaller, and growing smaller daily. Bye-bye!
    10 Jun, 12:42 PM Reply Like
  • Seeker137
    , contributor
    Comments (199) | Send Message
     
    This will chip away at the PayPal/Ebay monopoly in a most effective manner.
    9 Jun, 09:48 AM Reply Like
  • Benjamin Frost
    , contributor
    Comments (58) | Send Message
     
    Amazon's payment system is inherently insecure, as payments can be made without using the security code in Europe.
    9 Jun, 09:54 AM Reply Like
  • Budavar
    , contributor
    Comments (1387) | Send Message
     
    Bezos flaying in all directions like into crowded smart phone business - not a smart move (pun intended), dominated by AAPL with a $151 Billion cash hoard in the bank NOW. Now (pun intended) this "new" payment business What is next?

     

    What is next is the looming arrival of AMZN's worst nightmare right into AMZN's back yard. I'm referring of course to Alibaba's IPO.

     

    Consider - Alibaba had a reported PROFIT of $2 billion+ for last year, Bezos, the anti-hero in a rumpled shirt - has just guided Wall Street to a LOSS in the next quarterly report.(I resist now using another pun!)

     

    Welcome to the upcoming show-down at the OK Corral.
    9 Jun, 04:27 PM Reply Like
  • Ebook Bargains UK
    , contributor
    Comments (25) | Send Message
     
    If the Alibaba IPO coincides with the Q2 report we are certain to see a lot of Amazon investors jumping ship.

     

    If the novelty value of the Zon smartphone has worn off b then too, and Zon smartphones start repeating the KindleFire disaster (Who would have put money on Bezos having to go cap in hand to Samsung in a desperate measure to shore up the Kindle store presence on Android?) then things could get very interesting.
    9 Jun, 05:15 PM Reply Like
  • Hiro Hara
    , contributor
    Comments (117) | Send Message
     
    Not a game changer. Another Bezo's market follower strategy.
    10 Jun, 12:06 PM Reply Like
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