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October 8, 2013 09:46 pm GMT
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YTfJkv_0Eeo/
Amazon's Pay with Amazon' Service Challenges PayPal For The Web's Payment Business
Amazon has just launched a service called Login and Pay with Amazon that lets partner sites enable a payments button that will compete with PayPal and credit cards for customer checkout. This is a direct blow at one of the bigger third-party payment options that consumers have at checkout and an effort by Amazon to capture a huge chunk of the web’s payment business at large. Amazon has more than 215 million active customer accounts, Tom Taylor, Vice President, Amazon Payments says in a release today. Login and Pay withAmazonenables companies to make millions of our customers their customers by inviting online shoppers withAmazoncredentials to access their account information safely and securely with a single login. Now, at the end of a checkout process, you’re going to be seeing ‘Pay with Amazon’ buttons alongside credit cards and PayPal buttons: Amazon has been offering payment services for some time, which direct users to Amazon to authorize one-time or recurring payments. Kickstarter is a good example of this, as users log in to Amazon and are charged when rewards ship. This offering takes that one step further by enabling a login process right on the partner site, letting people use their Amazon credentials to authorize a payment. This leverages the trust that people have in the Amazon name to expand Amazon’s third-party payments business. The power of trust is a big one when it comes to payments, and companies like PayPal have been leveraging this to sublimate credit cards for some time. Amazon is second only to Apple in businesses that have collected massive numbers of customer credit accounts. An external button will allow it to leverage those accounts in a big way. More to come…Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YTfJkv_0Eeo/
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