June 28th, 2006 by merchant account blog
Google Payments, Update
Filed in: 3rd Party Processors, Ecommerce | 3 comments
Google payments is the talk of ecommerce and yesterday google let out a little about their pricing.
It looks like google is going to be charging a fee of 2.2% and a transaction fee of $.30 per transaction. This is more expensive than paypal for higher volume businesses, but is about the same as paypal for smaller businesses. Additionally google has stated that they may be discounting customers that participate in their adwords program.
What google is going to be lacking is the single thing that has made paypal so popular, Ebay. While google is the only company that I think would have a chance going against paypal with a new service, they don’t have the current 100 million current customers that paypal has. They also don’t have Ebay, and google base which is their ebay competitor isn’t going anywhere very quickly. It is going to take a long time to lure even a fraction of Paypal’s user base despite paypal’s very poor customer service history. I think google is going o have to find a new use to get a running start against paypal.
Maybe they can buy craigslist…
I guess Google is worried about being associated with a future product called “GOOGLE- G-STRING”.. Pretty funny
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From what I understand, Ebay has made something like a 20% investment in Craig’s List. If you go to Ebay’s community page you will see it set up exactly like CL’s, except for the job postings.
We have just got our google checkout account over on my site, and to be honest so far it has not been overly impressive.
You have to have seperate accounts for the sandbox (one for sellers and merchant), you need a separate account for you ‘real merchant account’ the a seperate adwords account. When you try to link them up, the system fails and it needs a google rep to manually do it.
So far it has bugs, but someone has got to take on the rediculous and abusive monopoly that ebay and paypal have become. We customers and users need it to get a fair deal.