Earlier this week, Amazon.com (NASDAQ: AMZN ) launched its new "Login and Pay with Amazon" service. Through this implementation, the online retail giant is aiming to help third-party websites allow customers to more easily process electronic payments using their Amazon credentials.
Of course, this isn't exactly good news for PayPal, which made up more than 40% of eBay's (NASDAQ: EBAY ) revenue last year.
What's more, in the following video, Fool contributor Steve Symington outlines several key advantages that Amazon should be able to enjoy entering into the payment space. Watch the full video below to get Steve's take, then let us know what you think in the comments section below.
Here's what Amazon needs to really succeed
Do you know the major developments that could crush Amazon.com? The secrets to success that could make investors like you rich? The answers are simpler than you think, and The Motley Fool is sharing them in a free report titled, "5 Secrets to Amazon.com's Future." Inside, we outline critical information that every Amazon.com investor must know, so click here now for your free report.