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Google Launches PayPal Rival
Google Checkout Launched
Roy van Rijn informs us that Google's new online payment system is now online. "Under the name Checkout, the venture offers an incorporated manner to search, advertise and pay. If you buy something on Checkout, 2% and $0.20 go to Google. Paypal, the biggest competitor uses 1,9% and $0,30. Analysts compare Google/Paypal to for example Visa/Mastercard living peacefully together, while others predict the end of Paypal."
W3K adds "You can use your Google account to store an unlimited number of credit cards and addresses. The service allows you to track all your orders and shipping in one place," and adds a link to a quick video tour.
Monopoly? I can accept payments in about 3615 different ways on eBay. What are you talking about?
Global warming is a cube.
You are not forced to use Paypal to pay for eBay auctions. Each seller, for each item they list, can choose what payment methods they accept. Some accept PayPal, some don't. Some accept only PayPal. Some will accept Money orders. Even for sellers that only accept PayPal, you can usually pay them through PayPal using your CC without creating a PayPal account - in effect just making PayPal their CC processor.
I'm sorry, the number you have dialed is an imaginary number. Please rotate your phone 90 degrees and dial again.
10. Disputes
GPC will provide various tools to assist Customers in communicating with each other to resolve a dispute that may arise between Buyers and Sellers with respect to their transaction. If Customers are unable to resolve a dispute, we can mediate disputes between buyers and sellers if either party requests assistance. If this occurs, we will review the dispute and propose a non-binding solution, if appropriate. For more detailed information, please see our Frequently Asked Questions.
GPC may offer a feedback or other ranking system on the Service to assist you in evaluating other Customers of the Service. You acknowledge that any such feedback or ranking system represents solely the opinion of other Customers of the Service, and is not an opinion, representation, or warranty by GPC with respect to other Customers of the Service.
You agree to release, GPC, Google, and other GPC affiliates, and their agents, contractors, officers and employees, from all claims, demands and damages (actual and consequential) arising out of or in any way connected with a dispute. You agree that you will not involve GPC in any litigation or other dispute arising out of or related to any transaction, agreement, or arrangement with any Seller, other Buyer, advertiser or other third party in connection with the Service. If you attempt to do so, (i) you shall pay all costs and attorneys' fees of GPC, Google, and other GPC affiliates and shall provide indemnification as set forth below, and (ii) the jurisdiction for any such litigation or dispute shall be limited as set forth below. However, nothing in this Terms of Service shall constitute a waiver of any rights, claims or defenses that you may have with respect to a Payment Transaction under the Buyer's card issuer agreement, the card association rules or applicable state and federal laws, such as the federal Truth in Lending Act or the Electronic Fund Transfer Act.
If you are a California resident, you hereby expressly waive California Civil Code 1542, which states: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if not known by him must have materially affected his settlement with the debtor."
Someday, I'll have a real sig.
Read their pricing scheme; sellers get free transactions if they use adwords, and the more they spend on adwords, the more free transactions they get. So, while this is definitely a new revenue stream, it is *also* a way to further bolster their main revenue stream.
The 1,9% and $0,30 rate for Paypal is if you recieve more than $100,000 to your account and you have a merchant account!
Normally, it's 2.9% + $0.30 USD. https://www.paypal.com/cgi-bin/webscr?cmd=_display -receiving-fees-outside
http://www.fatwallet.com/forums/messageview.php?st art=0&catid=52&threadid=478098
Citibank is now offering 5%. FDIC insured and will not lose value like a money market fund.
For the record, if you (the seller) advertises on Adwords, they give you $10 free transactions for every $1 you spend in Adwords advertising. So if you spend $500 a day on advertising costs, they allow $5,000 worth of sales go through for free.
Yes, you can dance to Radiohead.
The registration form lets you choose a country, but the terms and conditions state that you must be a US citizen. I didn't click on the "I agree" button.
Flashback to the early days of Paypal: Someone pointed me to this new service, and when I get to the registration form, it had "Country: USA" hard coded in the HTML.
WWTTD?
Paypal is NOT 1.9%. It is likely to be around 2.5% (over $3k in sales a month) or 2.2% (over 10k in sales) dpending on volume. many paypal uses pay around 3%. Google being 2% regardless of volume, makes it significantly cheaper then paypal for most sellers.
In Canada, you can send money through your bank accounts via email, as long as both of you have access to your bank's online banking. Unfortunately it's something not many people know about.
Check out this blog Bank Deals. While a lot of the CD specials on there are for local credit unions, there are also a lot of great online bank deals. Etrade, for example, currently has 3-month CD at 4.75% and the longer-term CDs going up from there.
http://www.popularculturegaming.com -- my blog about the culture of videogame players
In Australia, they charge you for typing a PIN incorrectly.
They had to dig deep for this charge as they have already been charging for everything else for years.
I'm gonna need a spec.