Are you ready for the launch of Google’s online payment system, to be known as “GBuy”?
Consumers using GBuy, which is set for release on June 28, will be taken off the merchant’s site to complete the payment. This will enable Google to capture e-commerce transaction data, driving more precise targeting in future searches.
“If harnessed, the precision of this targeting could be revolutionary,” wrote RBC analyst Jordan Rohan in a report Friday.
On its core search results pages, Google will designate each merchant accepting GBuy as a “trusted GBuy merchant.” If consumers view this as a mark of safety and security, Rohan believes this should increase click-through rate.
GBuy looks to be a direct competitor to PayPal’s “off-eBay” initiative, which is still early in its development, Rohan added. During the beta phase, Google will not charge merchants for its payment service. After some period, the analyst believes Google will charge 1.5% to 2%, in-line to slightly below that of PayPal.
“Short term, GBuy is more negative for eBay than it is positive for Google,” Rohan said. “Longer-term, it could be a game-changer.”
I wonder how they want you to pronounce it?
Competition is always good!
I’d guess ‘pronounce it the Australian way’ similar to ‘Gday’.
See Crocodile Dundee 1 or 2
Competition IS always good, problem is, when there gets to be too many of these things, which there is, it gets to be a problem for all involved.
The first thing that came to my mind was “Well, it can’t be worse than Paypal”.
GBuy would be an awful name. something like GPay would be better, and more descriptive. GBuy infers I’m buying something from them, like eBay
Hmm, well I hope this makes Paypal look at their business model again because this baby’s going to be stealing business from them from day one – paypal’s charges are over the top right now