Posted 07/30/08 at 12:14:26 PM by Paul Lilly

Paypal and relative newcomer Google Checkout will both face off against a new contender in the online payment arena as Amazon jumps into the ring with a service of its own. Called Checkout by Amazon, the new service gives online retailers the option of letting Amazon manage their payments, along with some compelling reason for letting them do so.

Surfers who already have an account registered with Amazon (and who doesn't?) will be able to pay for goods at sites using Checkout by Amazon using billing and shipping details already on file with the mega e-tailer. Sites using the service can also offer customers the same '1-Click ordering' as Amazon, order tracking and management, Amazon's purchase protection policy, and other nuances associated with shopping directly at Amazon.

Learn about fees and another payment service being launched after the jump.

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