Amazon takes on PayPal

Vishesh Kumar at TheStreet.com reports that Amazon is launching a new payments service called "Flexible Payments Service" to challenge PayPal. In spite of some moments of moxie, Google's Checkout thus far hasn't succeeded in slowing down PayPal. So it will be interesting to see what Amazon can do. But what befuddles me is why they're giving it such a cumbersome name when Amazon already has a famous and trusted payment brand: One Click.