Amazon Announces Online Payment Option

Online retail giant Amazon announced on Tuesday that it plans to offer a new online payment option called "Login and Pay with Amazon," that will allow users to more easily make purchases on the web, The Wall Street Journal reported.

With the new feature, users can click on the button to pay with credit cards stored in their Amazon account. Amazon will charge a 2.9 percent fee, plus 30 cents to merchants for each transaction.

For more on how the move pits Amazon against rival PayPal, click here

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