Report: Amazon to launch payment service to compete with eBay, Google

August 1, 2007, 9:10 AM UTC
Fortune

Silicon Valley insider blog TechCrunch is reporting that Amazon (AMZN) will announce a payments service this week or next that would compete with eBay’s (EBAY) PayPal and Google’s (GOOG) Google Checkout.

TechCrunch says Amazon has been testing the service for several weeks. From TechCrunch:

We hear that for now at least this is a redirect service only, like Google Checkout. Users will be redirected to Amazon’s servers to complete the payment and then returned to the original site. PayPal also offers an integrated solution that allows users to remain on the original ecommerce site, an attractive feature for larger partners. The service will also allow sites to use Amazon to manage payments between users, and receive confirmation of transactions.

For the full TechCrunch report, click here.