Amazon Updates Payment Service

Amazon.com has started beta-testing an update its payment offering, tweaking its redirect service to be more competitive against PayPal and GoogleCheckout, according to this story in the Seattle Post-Intelligencer.

The Amazon Flexible Payment Services was launched Friday as a beta test, and it is the first one built specifically for software developers, the company said. The program allows developers to send and receive money, create specific instructions on how payments can be made, aggregate micro-transactions such as a penny into larger transactions and view account balances. Amazon.com receives a fee for every transaction, the story said, but the Seattle-based company has a sliding scale based on whether payments occur through credit cards, bank drafts or from transfers within Amazon accounts.