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Amazon plans to process payments for start-ups and other businesses

Amazon has announced a new payment processing service for other businesses that it has been testing with startups and will launch soon.

@ShaneMcGlaun
Published Tue, Jun 10 2014 11:34 AM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Amazon has announced a new plan that will allow it to compete more directly with PayPal. Amazon plans to start processing payments for startup companies and other firms. The service will launch soon and allows over 240 million active users to use the credit card details stored on Amazon to pay for services.

Amazon plans to process payments for start-ups and other businesses | TweakTown.com

Services that users can pay for using Amazon's new payment service including things like monthly phone bills, digital music subscriptions, and more. Amazon will charge a fee for each transaction. Amazon currently acts as the middleman for a number of companies and this move will broaden that role.

Amazon has tested the service for several months with startups like Ting. Amazon says that users of Ting who used Amazon payment services spent 30% more than other customers did.

NEWS SOURCE:reuters.com

Shane is a long time technology writer who has been writing full time for over a decade. Shane will cover all sorts of news for TweakTown including tech and other topics. When not writing about all things geeky, he can be found at the track teaching noobs how to race cars.

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