Saturday January 28, 2017

Amazon May Finally Accept PayPal

I had honestly believed that Amazon never accepted PayPal because Jeff Bezos had some vendetta against the online payments companyآ—why else would it take so long? Pretty much every online merchant supports PayPal. Apparently, they just never really talked all that much to develop a business relationship. I think PayPal on Amazon might be kind of moot, though, since the latter already provides the convenience and security of the former. (Well, at least I would like to think that my CC info is safe with the largest online retailer, as it would be disastrous if Amazon had even the tiniest leak.) And with PayPal taking their sweet time with things like refunds, I wonder if it is worth it at all.

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While Amazon’s most loyal shoppers generally have their payment information saved as part of the Amazon Prime program, some shoppers might prefer the convenience of using PayPal as their primary digital wallet, said Paul Condra, analyst at Credit Suisse. That might produce more sales for Amazon, which may also benefit customers in Europe where credit cards are less prominent, he said. "There are people who don’t want to put their credit card information on Amazon and would like to use PayPal," he said. PayPal separated from eBay -- Amazon’s onetime arch rival -- to concentrate on expanding its electronic transactions business without being shackled to the slow-growing online marketplace. Schulman, who became CEO after the split, has been forging agreements to increase the number of people using PayPal and the frequency they use it.