Google payment system

[sb225]

google is launching payment processor at the end of month
http://news.zdnet.com/2100-9588_22-6082746.html

 

[sb225]

i still dont know how they start and allow to members i am waitng the day for launching

 

[apexad]

You know.. why doesn't google just buy paypal? buy Ebay? Surely they have to have the money to do it? Or at least buy a large enough stock in both companies so they could attach their name to it?

 

[spacetrain]

You know.. why doesn't google just buy paypal? buy Ebay? Surely they have to have the money to do it? Or at least buy a large enough stock in both companies so they could attach their name to it?

Because paypal is crap.

 

[antman]

You know.. why doesn't google just buy paypal? buy Ebay? Surely they have to have the money to do it? Or at least buy a large enough stock in both companies so they could attach their name to it?

Because paypal is crap.

I'm sure there's a logical explanation. Since PayPal is more closely related to eBay, Google wouldn't want to use PayPal.

 

[dnb8]

Ebay does not have to add anything. you can use any payment system you choose with ebay. not just paypal

no, You cannot use stormpay and egold...

 

[slaughterbeck]

Let it Ride!

Even though most speculation here has been in regards to Google developing a payment system that could rival eBay’s Paypal, I think “The Big G” might be a little less facinated on world payment processing domination and more interested in simplifying the payment processing for their ads network; at least at first.

Doesn’t it make sense that with all of the millions of bloggers etc. generating billions of dollars in ad revenue, that Google would increase profits by allowing their Adsense partners to transfer earnings to their Gbuy account instead of their bank account?

Most people are more free spending with electronic currency than with physical funds and I’m sure in Google’s minds they hope that many who might be somewhat skeptical to purchase Adwords ads with money from their bank account will be more apt to do so with the money from their Gbuy account.


My 2¢ (not from my Gbuy account - not just yet)


Best wishes,
Kimmy

 

[Kenny]

Let it Ride.....

Kimmy,

Interesting concept..... but seriously, G with an ulterior motive?
How could you possibly suggest such a thing?
I mean really... they are only here for the greater good of mankind, right?





Or are they? :hehe:

 

[NeeJam]

becuase thier launching Gbuy i've heard google are making an eBay type auction site to compete with eBay with lower prices etc.

 

[techie474]

Any updates?

 

[slaughterbeck]

Google Checkout checks in

Google was set to unveil on Thursday its much anticipated online payment processing system designed to offer shoppers with a Google account a quick way to pay for things.

Web sites and merchants can integrate Google Checkout into their sites as an alternative payment processing method to existing checkout and credit card processing systems, said Salar Kamangar, vice president of product management at Google.

Consumers with a Google account can type their credit card and billing information into Google Checkout once and then pay for purchases thereafter with practically one click on any Web site that features the system, Kamangar said. As things now stand, he said, "If I buy five things from five different merchants I have to fill out five different forms. This process can take three, four, five minutes" for each form. Google Checkout is meant to change that.

Once they've purchased something through Google Checkout, consumers can track their orders through the system, which will be live starting Thursday at Checkout.google.com.

Merchants using the system will be charged a processing fee of 20 cents per transaction, plus 2.2 percent of the relevant purchase price. Customers who pay for search-related keyword ads through Google AdWords will be able to process, free of charge, transactions that add up to 10 times the dollar amount of their AdWords spending, Kamangar said. Beyond that, they pay the 20 cents plus 2.2 percent. Kamangar said the regular transaction fees are less than those charged by credit card companies, which can be about 1 percent higher.

AdWords customers who use the payment system will have shopping cart icons displayed in their ads so customers will know that they can use their Google Checkout account to pay for purchases.

The back-end system is the same as what Google has been using for at least a year to allow customers to pay for premium services on its Google Earth, Google Video and Picasa Web services, Kamangar said. Now the system is being expanded to allow any merchant to use it as an alternative payment processing system.

Though Google Checkout is being integrated into AdWords, Google will not track data about which keywords lead to purchases, use such information to modify AdWords auctions or bid prices, or combine such data with its new cost-per-action test ad system, under which advertisers pay only when the ad leads to a sales lead or a purchase, Kamangar said. For now anyway.

"We wouldn't rule that out entirely," he said. "There may be opportunities" in the future.

The Google Checkout service could also be extended for use on mobile devices, but Google is not working on that right now either, Kamangar said.

Any Web site can add Google Checkout as a payment processing method by either cutting and pasting HTML, or Web code, into the site. Large companies and e-commerce and shopping integration providers can also integrate it as an option within new or existing shopping cart systems, as retailers Timberland and Levi's are doing, he said.

Google also is partnering with financial services companies. For example, Google and Citibank will offer customers a co-branded Checkout option that will provide users $5 and 1,000 "thank-you" points for signing up, Kamangar said.

Like other payment processing services, Google Checkout hides credit card numbers and reimburses consumers for unauthorized transactions. It also lets users choose whether to keep their e-mail addresses confidential, and users can opt out of unwanted e-mail from merchants.

"The system takes some of the friction out of making a transaction," said Greg Sterling of consultancy and research firm Sterling Market Intelligence. "But the question is, will consumers feel this is secure and trustworthy?"

Charlene Li, an analyst at Forrester Research, said the system bolsters Google's search marketing service by making it easier for shoppers to find things and purchase them. "A lot of people abandon (their shopping) during the shopping cart process," she said. "Anything (merchants) can do to increase the conversion rate will lead to a better return on their (advertising) investment."

The service will initially be offered in the United States only, and, unlike most new Google products, it is not a beta test version.

"No. For once, we are not releasing a beta product," Kamangar said. "It will be ready to go as of Thursday. We've been testing it extensively with a small set of customers."

Google Checkout will handle only payments of one cent or more--not micropayments for things costing a fraction of a cent, Kamangar said.

Analysts had been expecting the announcement for more than a year, and some speculated that it would be the first piece in a larger infrastructure to enable payments across the Web.

Though analysts were dubbing the product a "PayPal killer" before launch, Google executives have dismissed that notion. "We think this is a very different type of product," Kamangar said.

"This is about the checkout process, not the payment method," he said. "We're trying to make the checkout experience linked from an ad, and make it so you can buy things as quickly online as (you can) offline."

Source: Com.com

 

[cyberoptik]

Very interesting!

 

[innocentmwangi]

This is good. Only I hope they will spread it to all countries. This should wake paypal up. The competition is good. The more good choices we have the better - it reduces monopolistic tendencies. Thankyou google muscle!

 

[slaughterbeck]

Say g'bye to gBuy and hello to Checkout

Any updates?

Yes, it's called Checkout and not gbuy. Hmmm...

 

[techie474]

Thanks for the update. Checkout.google.com redirects to Google Accounts at the moment, but I do hope Google Checkout will be for everyone. I hate to see that I cannot create paypal account, as my country is not in the list.

Regards,

 

[firecubes]

cool :D.
https://www.google.com/accounts/Ser...Jnvo&upgrade=true&nui=1&ltmpl=v2_SmB_ltlv_1_0

 

[Pagerank]

PayPal's Latest Rival.

It was inevitable wasn't it.

https://www.google.com/accounts/Ser...com/?upgrade=true&nui=1&ltmpl=v2_SmB_ltlv_1_0

Google Checkout.

Thoughts/Views?

 

[hanz]

It is not cool because they accept only sellers from USA
It is like there is no life outside USA

 

[worldstar]

I would like to use it! Paypal seems always has problems!

 

[hanz]

It is up already and I must say that I am very disappointed in Google

 

[Scott]

It is up already and I must say that I am very disappointed in Google

Why? They stated right from the beginning it's not to compete with PayPal.

While Google Chief Executive Eric Schmidt confirmed in press accounts that the company was building a payment service, Mr. Schmidt also denied it would directly compete with PayPal. Mr. Schmidt said Google didn't intend to offer a "person-to-person, stored-value payments system," which many people consider a description of PayPal's service.

http://online.wsj.com/public/article/SB113918924045565647-jtBYW5A_4ZI6WZiwUaUJNSbVAQI_20070206.html