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Amazon's foray into online payments

For years Paypal has reigned in the realm of online payments without a serious contender. Many hypothesized the move from Google, but Amazon swooped in suddenly with a fully thought out service to rival Paypal.
Amazon already has the necessary trusted brand to start an online payment service, will it be able to rival Paypal?
Under the direction of Jeff Bezos, Amazon has been expanding continuously over it's nearly 20 years of existence. Beginning as an online bookstore, Amazon soon branched out to selling DVD's, CD's, and then pretty much anything.
Now Amazon offers online video content, it's own tablet, a plethora of e-readers, and now an online payment system. It's a logical move, considering Amazon began allowing third party transactions for used merchandise (similar to eBay) years ago, but those transactions were required to be conducted directly through Amazon.com. With Amazon Payments, businesses and people will be able to use Amazon's secure system for transactions without selling merchandise directly through the site.
It's a substantial move for a company known for looking ahead. With the clout Amazon carries, they're almost assured a respective showing. Knowing Bezos, his plans are bigger than that.