Amazon Takes on PayPal With Its Own Checkout Service

The next time you buy a pair of shoes online, you may have more choice than paying with your Visa or PayPal — you may also be able to pay using Amazon.

That's what Amazon is hoping, anyways. The retail giant announced Tuesday a new service called "Login and Pay with Amazon." The service, where enabled, will allow shoppers to check out at third-party retail websites by using the payment information they have stored on Amazon (think of it as Facebook Connect for shopping). It's designed to make checking out more streamlined and secure: Shoppers won't have to enter their payment information during checkout, and they won't have to store that information at an additional site. Read more...