????而在日益嚴峻的電商競爭格局中，更重大也更迫在眉睫的一個問題是：作為一對老對手，當eBay和亞馬遜的業務擴展時，它們正開始互相侵犯彼此的傳統領地。這個月，亞馬遜推出了“注冊支付”功能，能讓亞馬遜2.15億活躍用戶用它自己的技術在其他網站上購物時付費。早些時候，亞馬遜還為實體零售店推出了“讓亞馬遜買單”功能。而這兩項新服務都是在和eBay的增長領域正面競爭。

????此前貝寶（PayPal）已經迫使“谷歌錢包”（Google Wallet）這樣的對手拱手認輸，還保持了自己的競爭優勢。打造一款網上支付產品是個十分漫長和復雜的過程，率先行動的企業總能享有明顯領先優勢。不過eBay現在還沒法讓亞馬遜臣服。這個月，它的分公司貝寶宣布，針對在李維斯（Levi's）、肯尼思?科爾（Kenneth Cole）和運動權威（Sports Authority）這些零售店買的東西，提供兩天免費送貨（和亞馬遜的尊享服務一樣）。

????除了要和亞馬遜正面交鋒，eBay還得應付一幫新的零售商的競爭，比如Groupon貨品（Groupon Goods）、Etsy、Fab、Zulily和其他很多類似對手。此外，如果阿里巴巴（Alibaba）這家中國電商巨頭計劃在美上市預示著它將進軍全球市場，eBay可能還得應付這位實力強勁的對手。而貝寶則要面對移動支付技術公司Square這類市場新貴的挑戰，后者本月宣布推出一項服務，讓擁有借記卡的人能通過電子郵件轉賬。

????為了積極應對網上支付的激烈競爭，eBay最近宣布斥資8億美元收購Braintree公司。這是一家網上支付處理企業，很受移動應用開發者和Airbnb以及Uber這類長勢迅猛的初創企業歡迎。多納霍表示，這宗收購將鞏固貝寶在全球移動電商領域的地位。本周一，eBay又收購了位于倫敦的Shutl公司，以幫助公司實現明年年底在25個城市提供當天快遞的目標。

????這些舉措看起來確有可能讓eBay在這個競爭激烈的市場中保持增長態勢。但讓人擔心的地方在于，隨著經濟發展的不確定性正讓電商增長的步伐放緩，電商領域的競爭只會愈演愈烈。就算能一直精明布局，準確出招，但eBay的投資者們可能還是會發現，這家公司花了數年心血才實現的復蘇歷程可能最終無法結出他們一度期盼的碩果。（財富中文網）

????譯者：清遠???

????A bigger and more immediate concern in the rising competition in e-commerce: eBay and Amazon have long been rivals, but as their business models expand, they are beginning to encroach on each other's traditional turfs. This month, Amazon launched "Login and Pay," which lets Amazon's 215 million active customers use Amazon's technology to pay for purchases on other sites. Amazon earlier unveiled Checkout by Amazon for physical retail stores. Both of these new services will compete directly with eBay's areas of growth.

????PayPal has faced down competitors like Google Wallet before and maintained its edge. Building an online payments product is such a long and complex process that first-mover advantage is substantial. Nor is eBay taking Amazon's moves sitting down. Its PayPal subsidiary announced this month a service offering free two-day shipping (just like Amazon Prime) for purchases made on retail sites such as Levi's, Kenneth Cole, and Sports Authority.

????Even as eBay battles it out with Amazon, it's facing competition from a new wave of retailers like Groupon Goods (GRPN), Etsy, Fab, Zulily, and many others. It may also face a formidable competitor in Alibaba if the Chinese e-commerce giant's planned IPO in U.S. markets presages a move into global commerce. And PayPal faces upstarts like Square, which this month announced a service letting anyone with a debit card send cash by email.

????eBay recently responded to rising competition in online payments by paying $800 million for Braintree, an online payments processing company popular with mobile developers and growing startups like Airbnb and Uber. Donahoe has said the acquisition will strengthen PayPal's global presence in mobile commerce. And Monday, eBay bought London-based Shutl to help it offer same-day deliveries in as many as 25 cities by the end of next year.

????Such moves are likely to keep eBay growing in a competitive market. More worrisome is that competition is intensifying in e-commerce just as economic uncertainty is slowing the pace of e-commerce growth. Even if it continues to make shrewd moves, eBay investors may find the turnaround it took years to put into place may not be producing the rich crop of fruits they once anticipated.