Amazon, though very familiar with taking your money, now wants to get in on the game of helping you move your money elsewhere. On Jan. 29, TechCrunch reported that not only is Amazon developing a point-of-sale service, but they’re also working on a peer-to-peer system that would poise them as a competitor to PayPal.
The point-of-sale software would be used on Amazon’s Kindle tablets and could be available as early as this summer. The Wall Street Journal reports that initially Amazon would give the tablets to merchants as well as credit card readers. To improve the overall experience, Amazon might also offer the retailers website development and analysis.
Amazon will be using some of the technology they gained when they acquired GoPago, which offered checkout systems that linked to a smartphone app.
This development would take Amazon’s services into the physical world of retail, which it has always been in competition with.
However, looking to a new competitor with a P2P solution is part of a bigger strategy to build “products and services which will delight billions of customers as they buy and sell things in the real world.”
TechCrunch also notes that the peer-to-peer payment options are also a wise move to in corporate into the rumored Amazon phone. Amazon is also reportedly considering developing a mobile wallet that stores credit card information in your phone to speed up the payment process.