USATODAY.com – Report: Google preparing to challenge PayPal — Hooray.
MOUNTAIN VIEW, Calif. (AP) — Online search-engine leader Google Inc. is preparing to introduce an electronic payment system later this year in a move that would pose a financial threat to one of its biggest advertisers, Internet auctioneer eBay Inc.
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Here is a timely picture on this
http://compactURL.com/ybvc
Google Auctions around the corner?
1. Ebay has no control over how you pay the buyer. It’s your deal, not theirs.
2. Sellers quickly got tired of Paypals high transaction fees, but can ebay ban Google payment system? I doubt it.
3. Google gives Paypal some competition, which is good for
the consumers.
If Google gives away the service for a limited number of transactions, say 10 a month, the low volume sellers should use it. The high volume merchants will be a harder sell, so I suspect Google will bundle an ad/payments package that will please these sellers and provide more potential sales volume and lower fees.
I’m sure everyone has heard that Pay-Pal rips off its users. But what I’ve also heard is that Pay-Pal almost has to do that in order to survive. In other words, it gets ripped off so friggin’ much that it has to recoup its loses by screwing over its users.
If it’s true that Pay-Pal get ripped off that much, what is Google going to do differently to avoid it? And if there was an easy solution, why hasn’t Pay-Pal implemented it?
My prediction is that Google will drop its payment system after a few years after learning how difficult it is to run it honestly.
You are not ripping off your customers with fees if in the end you are only just getting a profit.
I don’t really see a point in using a Google version. As far as I’m concerned using PayPal is damn cheap as it stands.
Oh and I predict all those privacy people flip out even more then they ever have.
Competition probably helps here. Paypal keeps changing its policies to make more money. They originally said their credit card fees would be cut in half if you took their debit card, then that disappeared. A bigger problem is what they do when there’s a dispute. You are guilty until proven innocent, and I couldn’t even get a clear answer about what happens if I’m proven innocent(Post Office doesn’t deliver it.)
I had a bad experience with PayPal almost 5 years ago. I couldn’t get anywhere with them so I used the “F” word and will refuse to use them again. If any on-line business insists on PayPal, my business goes elsewhere.
Competition? Sounds good to me.