Paypal Amazon Rivalry

Whoa, a war is breaking out between tow real titans; PayPal and Amazon. We at FintekNews just ran a story today on PayPal’s success in the payment space and here comes Amazon on the offensive. A few androids and it’s a gamers’ delight. Fight, fight fight.

It seems there may be a bit of a divergence in the works between PayPal and Amazon. PayPal had been discussing with the giant retailer of everything about using their service more, but Amazon’s own payments service is growing a bit more than thought and perhaps may not need PayPal’s payment service. Amazon does have a tendency to do things in house when it makes sense as seen by their air delivery Prime. Remember FedEx and UPS? (Bill Taylor, CEO)

“PayPal said recently that it has been talking with Amazon about adopting its payments service on Amazon.com, but the Seattle-based e-commerce giant is reporting significant growth today for its own rival payments service for third-party sites. 

A cumulative total of more than 33 million unique customers have used Amazon Payments since the service launched in 2013, the company announced Tuesday morning. That’s an increase of 10 million from the cumulative total of 23 million customers announced a year ago. The volume of payments made through the service also nearly doubled in 2016, the company said, without disclosing specific numbers.

The service, known as Pay with Amazon, lets customers use their Amazon accounts to pay on sites beyond Amazon.com.

The service expanded to France, Italy and Spain in addition to its brick-and-mortar bookstores in 2016, which likely accounted for a large portion of its growth.”

Read Full Article at Geekwire