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Amazon taking on PayPal by expanding online payments business

09
Jun
2014

Amazon wants to take the lead in the crowded online payments market. Reuters reports that the e-commerce company is now letting users manage their digital subscriptions and monthly bills using credit card information stored on their Amazon profiles. The move puts Amazon in line to potentially surpass PayPal as a dominant payments player, while also putting it well ahead of other major companies moving into the field. Amazon already derives considerable profits from Payments, which launched in 2007. However, that still trails behind PayPal;

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