Is Amazon Developing a PayPal Competitor?

According to a filing at the U.S. Patent and Trademark Office, Amazon (NASDAQ: AMZN  ) could be gearing up to launch an anonymous mobile payment network. Not only would this move take direct aim at eBay's (NASDAQ: EBAY  ) PayPal unit, it could potentially threaten Google (NASDAQ: GOOGL  ) as well. In this video, Motley Fool contributor Steve Heller weighs in on the filing and what other plans Amazon may have up its sleeve.

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  • Report this Comment On April 23, 2013, at 10:53 AM, NobodysFool2013 wrote:

    If they want to make an anonymous payment network that obscures buyer from seller, how will this work when the seller has to print a shipping label? Maybe for FBA merchants but the vast majority of Amazon sellers do not use FBA for obvious reasons that merchandise in Amazon's warehouses under FBA is locked into their system and the merchant can't offer it for sale elsewhere.

    I just don't see sellers of high end musical equipment, jewelry, antiques, electronics being forced in to FBA and it would be a paralyzing move for Amazon.

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