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January 31, 2014updated 04 Apr 2017 4:09pm

Amazon plans to offer P2P payments and Kindle check out systems

Amazon is, reportedly, planning to offer person-to-person (P2P) payments service and a Kindle-based check out system for brick-and-mortar retailers.

By Verdict Staff

Amazon is, reportedly, planning to offer person-to-person (P2P) payments service and a Kindle-based check out system for brick-and-mortar retailers.

The new service, which will initially be intended for smaller retailers, will put Amazon in direct competition with PayPal, as well as banks that offer their P2P payments services.

Meanwhile Amazon is also planning to take on PayPal, Square and other mobile POS vendors such as VeriFone with a checkout system for retailers, reported the Wall Street Journal.

In addition to providing tablets to merchants, Amazon will also offer additional services such as website development or data analysis.

The new system will integrate a credit card reader with a Kindle tablet and will tap GoPago, the start-up from which Amazon bought certain technology and hired engineers late last year.

According to the publication, Amazon aims to create a mobile wallet with stored credit-card information to help speed up payments.

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