'Amazon Tax' could cost Illinois
Potential new law is not clicking with Illinois online retailers, reveals My Web Times.
Both House and Senate lawmakers approved House Bill 3659, which now heads to the governor's desk. Dubbed the 'Amazon Tax,' the legislation requires online retailers, such as Amazon and Overstock, to collect the state's 6.25% sales tax from Illinois customers.
The state can now collect sales tax from online sales of a business that has an actual brick-and-mortar presence in the state.
eBay to change business model
Online auction site eBay could lose market share as it transitions from auctions to a platform for larger merchants to sell fixed-price items, an analyst says, reports Bloomberg.
Wedbush analyst Lou Kerner said in a note to investors that eBay has about a 12% share of global e-commerce, but could lose that as it changes its business model.
He initiated coverage on the company, based in San Jose, California, with a neutral rating and $31 price target.
Google considers new mobile apps
The news that Google is now considering introducing its own 'mobile payments and advertising' service is not unexpected, says Mobile Barcode.
Other firms with existing operations in the payment processing business, such as PayPal, already support use of that service from a mobile device.
But eBay's PayPal may also start a commercial NFC service in the second half of 2011, according to Laura Chambers, senior director of PayPal Mobile. The system would also power peer-to-peer NFC transactions.
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