One more payment services provider in the market after PayPal and Google Checkout!

Amazon recently published an announcement in their Amazon web services Newsletter to Web service developers about their upcoming Online Payment System. According to the newsletter, the Beta version will be ready for testing very soon. Amazon already have Amazon Payments, but the new service will provide visitors to your site to use Amazon account to pay you for any product or service. It will also offer subscription and controlled access to content. The service will provide sites to use Amazon to manage payments between users and receive confirmation of transactions. This will be really useful for the online fund management services, definitely, it will be micro payments though.

You will be able to verify the status of any transactions to make sure that the user has not rescinded it. Amazon will provide the Web service API for payment processing and developers will be able to customize as per the need of online merchants. Since Amazon is running extremely successful Amazon Web Services and already having widespread users of the service, it won’t take much time for Amazon to compete with the existing market leaders.

Today, PayPal is the most popular payment service among small businesses. But it is sure that now the competition will be not so easy. For us, the more payment service providers compete, more choices for better service.

We will Watch Out, who will win the payment services market - PayPal? Google Checkout? or Amazon?

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