by Mike Masnick
Thu, Jun 19th 2008 8:01am
Plenty of other companies have tried to take on PayPal and discovered that it was a lot harder than it looked. Even though there are a lot of folks dissatisfied with PayPal, most attempts to compete with it have fallen flat. Even Google's efforts haven't really made a huge dent. However, could Amazon shake things up a bit? Over the years, it's done a few things to put its toes in the water of personal payment systems, and now some are predicting that it's gearing up to launch a full on PayPal competitor in the next few months. The analyst who wrote that report notes that Amazon isn't "just another" PayPal competitor, suggesting that its knowledge and experience with online retailing will allow it to create something better. It would certainly be an interesting fit with other "web services" that Amazon has been offering lately -- and would even tie further into Amazon's existing knowledge and scalability. That said, for whatever reason, this market has been a tough one to crack, so we should probably wait and see what the specifics are (if any) before determining its likelihood of success or failure.
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