Amazon Launches Flexible Payment System
Posted on August 5, 2007
Amazon has launched its Flexible Payment System (FPS). The big three ecommerce leaders are now all providing online payments: Amazon APS, Google Checkout and eBay's PayPal. Microsoft will also get involved at some point in time. Om Malik explains why Amazon and Google want a slice of eBay's PayPal business. It is primarily because it had revenues of $454 million in its most recent quarter.
It is not a surprise, that both Google and Amazon want a slice of PayPal's cake. In the most recent quarter, PayPal had net revenues of $454 million, up 34% over the $339 million reported in Q2-06. More importantly, PayPal Merchant Services transactions jumped 57% to $4.92 billion globally from the $3.13 billion reported in Q2-06.Amazon's FPS service will allow web developers to build secure payment systems for Internet retailers and web sales. Developers can read more about the service here on the Amazon Web Developers Blog.