Amazon launches paypal competitor

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Amazon has launched a service known as amazon payments that allows consumers to use their Amazon accounts to send and receive money and shop online at “thousands of sites.”

It’s accessible on both desktops and mobile devices.

There’s no recurring fee for retailers, though amazon plans to take a standard cut of 2-point-9-percent from those businesses, plus 30-cents for each transaction of 10-dollars or more.

 

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