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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.
Yeah, I'm sure eBay will let that happen.
There are places where the networks are not touching,and there are places where they are-Boeing's Lori Gunter
NYT times also has a interesting article on this with quotes about Google's plans on what they want to do with this product.
Plan 9 from Bell Labs.
No matter how much I dislike PayPal, I'm forced to use it if I want to buy something from eBay. Until GoogleCheckout tries to break PayPal's monopoly at eBay (it surely can't be legal) I can't see the demise of PayPal happening. This isn't the beginning of the end but the end of the beginning.
Let's hope there won't be a need to create more sites like this, http://www.paypalsucks.com/. Because Paypal works pretty good and what seems to be what people complain the most about is the poor handling of fraud and disputes.
Zere vere zwei peanuts valking down der Straße, and von vas assaulted...peanut
Monopoly? I can accept payments in about 3615 different ways on eBay. What are you talking about?
Global warming is a cube.
My biggest question is if I can use my checkout funds to pay for stuff. I live in Greece, so I can't withdraw PayPal funds (cheaply, anyway), but I can use it to pay for my hosting/online shopping. If I can't do this with Google Checkout, it's all but useless to me.
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I watched the video.. didn't RTFA though. Does anyone think this it is weird that google is advertising this as a replacement for credit cards?
Paypal markets itself as a "safe" alternative for things like ebay, and easier to use for things like donations and small online stores that might not be able to use credit card facilities. Yet google is advertising this as a replacement for credit cards on all of your purchases. Would you be prepared to pay 2% on every single purchase you made at an online store just so you don't have to "fill out forms"? This seems silly to me at best.
I can't imagine ever using paypal for any real purchase. This sort of thing should only be needed for small and unsafe purchases.
Also, considering how long it took paypal to have Australian checking account support, I'm not going to hold my breathe on Google!
So, can it be used as a method of payment for Ebay auctions and other person-to-person transactions?
And...
I don't think PayPal will be going away anytime soon. PayPal's business is driven by Ebay, and PayPal is part of Ebay.
-- Never hit a man with glasses. Hit him with a baseball bat.
Now Google can keep all of my credit cards on file for me! Maybe the NSA should contract them for a new domestic spying program.
It's like sex, except I'm having it!
> No matter how much I dislike PayPal, I'm forced to use it if I want to buy something from eBay
I think, with this and other online payment systems, you won't actually need to use eBay for much longer. The combination of eBays shocking lack of regard for blatant scams, their stock - ineffectual and often incorrect or irrelevant - replies to complaints, and the way they push their inherently unsafe PayPal* system has put me off using them.
*When is the money mine? As a seller I mean? For how long afterwards can someone just take the money out of my account? How have PayPal managed to piss off so many people so quickly?
I think the most important thing about this entire endeavor is that it is the first Google product that plans on actually introducing a revenue stream besides advertising to the company (especially since the Google Pay Video system has more or less fell through at this point in time.)
I'm not quite sure what that means for the long-term health of the company, but I suspect that the more streams of revenue a company has, the more likely they are to become conservative, entrenched, and reluctant to embrace change. Google has managed to avoid all that because they've had a strong beam focus on a single revenue stream (ad dollars) - as they start matriculating, I suspect that beam focus will dissipate.
But then again, they're Google - they just work smarter than basically every other company out there today. So I put nothing out of their reach.
4.7% interest on money contained in paypal accounts, no minimum. That's hard to beat for a pretty liquid fund of money.
While we all love Google and everything it produces over here on slashdot, I don't think that they are going to crash PayPal's party in the too near future.
This is what they said when Blockbuster started competing with NetFlix, but NetFlix is doing quite alright by themselves, and PayPal is, in my opinion, in better shape in their space than NetFlix was. PayPal and eBay are pretty good bed buddies, and PayPal is already accepted on thousands of other websites. People know the name, people have used it before, people know it works.
Regardless of how great the product Google produces turns out to be, people will still use PayPal as long as PayPal remains competitive, which I imagine it will. I mean, for all the people who rave and rant about how amazing Gmail is, the mailing list that my mom's quilt shop has accumulated is saturated with yahoo, hotmail, and aol addresses, with not a single gmail address to be found out of a few thousand names.
"Dear Valued Customer, In an effort to protect your security and combat identity fraud we need to periodically confirm your account activity and identity. Please click here, login using your google account information, and complete the highly detailed personalized questionaire.
Sincerely,
Not a Phishing Attempt
So anyone grab checkoutgoogle.com for this yet?
YouStockIt - Education through Unorthodox Methods
OK, I acknoledge that I'm paranoid, but the thing that makes me nervous about google services is that thay use single account for all purposes. This not only allows to keep track of my whole life, but also allows a person, who hijacks my email account, take control over my mail, internet messenger (IM was used for several famous frauds in Russia), and now money directly!
May Peace Prevail On Earth
> 2% and $0.20
So they didn't want to just take the 2% so it could be used by websites to charge tiny amounts of money per page/hour etc? $0.20 blows that intriguing possibility out of the water. They could accrue the amounts spent until it reached some value where the transaction was worth performing, if they're worried about thousands of $0.001 hits slowing down their system or costing too much to run.
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.
"The service allows you to track all your orders and shipping in one place"
Should read as:
"The service allows Google to track all your orders and shipping in one place"
Before Google Checkout has much hope of usurping PayPal, they'll need to accept more payment options.
Paypal currently allows payment direct from a bank account (I don't expect Google to need this), Visa, Mastercard, Amex, Delta, Maestro, Visa Electron, Solo, Discover, and more if you count their other services. That's at least 10 ways to pay.
Google, on the other hand, accept Visa, Mastercard, Amex and Discover. With only 4 ways to pay, I suspect Google Checkout is not an option for many people.
Disclaimer: I live in the UK and this is based on my experience with the UK PayPal service. I also agree with the sentiments of paypalsucks.com, and would like to see Google smash PayPal to pieces if they can Do No Evil. YMMV.
Google Checkout has been released today. From their blog: We've heard time and again from users: "I find great stores through Google search, but every time I try to buy from an online store, I have to re-enter the same billing, shipping, and credit card information. There are too many steps. Why can't it be as fast as a Google search?" This motivated us to improve the online purchase process, and so today we're announcing Google Checkout, a checkout option that makes buying across the web fast and easy."
Google CheckOut includes single signon and badges on adwords of merchants that use Google CheckOut.
Features include using many addresses and many different cards for buyers and a "Payment Guarantee" against chargebacks for sellers.
AdWords users get $10 in sales processed for free for every $1 spent on AdWords.
For those of us text weary, there are videos for buyers and sellers
Kinda looks pretentious,
It doesn't look pretentious if you're European, it looks normal. There is a world outside the evil empire! I will, however, agree that one shouldn't mix standards.
init 11 - for when you need that edge.
I didn't look into it very hard, but it seems like Paypal has same major features that Google Checkout doesn't have; direct access to bank accounts and person to person transfers. I have used direct transfers several times for transfering money between family members. We are all pretty lazy and it has become easier to use Paypal than it is to write a check and put it in the mail. Also, Paypal seems to be more convenient to the casual seller on Ebay. Also, what about the folks on sites like Rent-a-coder that like to get paid through Paypal. I can see how they would compete on the business side, but for regular joe's, Paypal is still the answer.
If by "Google launches PayPal Rival" you mean, "Google launches a service for merchants to process credit cards". Then yes, this is a PayPal rival. This service does not allow you to transfer money from person-to-person, nor does it allow you to pay by check, bank draft, etc.
You have my secrets.
You have my money.
But where can I upload my soul? Yes, I have googled.
Remember, when you sign up for Google Checkout you can fill in any country you like, but the Terms of Service says:
:( And most supporting companies don't even ship outside the US.
- 18 years old or older;
- capable of entering into a legally binding agreement; and
- a resident of the United States.
So only people from the United States are allowed to use it yet
My blog: http://www.redcode.nl
Different parts of the world use different symbols for numeric representations, comma is used as a decimal separator in sme locales, I suspect that it is in The Netherlands, where apparently the submitter comes from. He probably just typed it in the second time out of habit, the rates for Google perhaps he copy and pasted, or specifically remembered he's talking to a predominatly American audience.
NZ Electronics Enthusiasts: Check out my Trade Me Listings
Personally, you won't find me going near most of the services offered by the likes of Paypal and now Google until organisations that are acting like banks or credit companies are regulated like them as well. My high street bank and credit card have pretty crappy customer service at times, but compared to some of the things Paypal's been accused off, the other guys are saints.
If you disagree, post your argument. (-1, Overrated) isn't your personal censorship tool for views you don't like.
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.
"The service allows you^H^H^H them to track all your orders and shipping in one place"
Regards,
The nation's #1 tinfoil hat supplier!
Odd, my maths says Google would be cheeper for anything under $100.
Buy why O' why no micropayments, wake me up when they have a 10% + $0 option.
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
With a decent micropayment system Google could really change the web. It's a shame this is not it. It's likely Google could blend micropayments into sites pretty well with their AJAX skills - and their infrastructure should mean that the implementation cost was marginal (for them). And search could benefit. A micropayment is a pretty good vote for a site.
I was interested in this as a seller, but I'm somewhat wary of the $10 chargeback cost they charge the seller if a buyer either ask refund or is just defrauding you.
Typically this means that if a seller is the victim of fraud, (s)he loses the item sold AND has to pay $10 because of it.
Using this for "micro"-payments of, say, $5, would be pretty dangerous considering the risk of fraud.
I've been selling through another service for years now and thus have some indication of the amount of fraud happening on the internet. I may still try google CheckOut, but probably only for $10+ payments so valid orders may cover the risk of fraudulent ones.
Besides, the service is only available in the U.S.A. anyway, so I'd have to wait for it. Odd, considering AdWords and AdSense are available pretty much worldwide.
Slashdot social media options: AIM, ICQ, Yahoo, Jabber and Mobile Text. Why no MySpace?
I dig Google, man do I ever but I think I have reached my limit as to how tightly I integrate myself with Google, inc. Google IS a publicly traded company and it's only a matter of time before "Do no evil"(tm) becomes "We do less evil than everyone else" (tm). Why? Because Google is publicly traded and their only real obligation is to their stockholders. No matter of hipster-doofus-coolness culture trumps that. Just look at Apple...
They have transitioned themselved from being cool to being fairly evil (sweatshops for iPod manufacture, closing off the Darwin source)
Besides do you think for one second that eBay will make integrating auctions easy with Google? Of course not....
Paypal does suck but all of these services do and odds are Google's will too.
I wonder why Google and Paypal don't want porn to be sold using their service.
Just think of the huge market they're abandoning; if porn sites could use paypal or google for payment, many more folks might be willing to to pay for porn since they won't be giving their credit card info to seedy companies!
But for some odd reason they forbid it. Strange...
-Z
It says it is not a banking institution. So, it has lower rates and has "Google" in its name.
No other difference from Paypal?
It seems they use their brand value and lower rates against Paypal. Hope we won't have another Google Groups in hand since this thing is purely related to real life money.
On Google Groups, you can pollute usenet with any kind of criminal scams, pyramid schemes and they send "Google does not censor groups" type of "we don't care" message in politically correct way. Deja could handle abuse while usenet was really huge compared to today but as a billion dollar company they can't.
I hope they start working with Spamcop.net , Antiphishing.org and fraudwatchinternational.com right now. I hope they recorded all their URLs/IPs as interested parties and we (reporting users) don't see "ISP does not want to receive reports regarding" type of stuff at spamcop.net as first days of Paypal.
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?
Google Checkout lets buyers hide their email addresses from sellers -- but, it seems fair that sellers should get buyers' email addresses (PayPal doesn't similarly hide emails).
It also seems like hiding the email address from the seller may also encourage more fraud (especially for digially distributed works).
So, at first glance, Google Checkout seems worse than PayPal from the seller's perspective -- it'll be interesting to see if sellers choose to stick with PayPal for reasons such as these...
Here's what I do: Bitty Browser & Andromeda
Google wants to track data flow; they want to see how you get to sites, what you look at and what you buy. This system allows them to watch how money flows in a controlled market place. I would assume eventually they will hold money and you can buy and sell with it. IE you could give your kids 100$ in their account, they could buy a DVD for 15$ and now have 85$ but sell two CDs at 10$ each and have 110$. This will eventually eliminate the $.20 fee (or make it Google profit). It will be come a commodities market of sorts, I will watch Tom Cruise jump up on a couch and decide TC movies will become hot sellers so I will quickly move my money to take ownership of his films and put them up for sale at a higher price. You people will buy them from me and I will have a profit which I will re-invest in Hillary for President bumper sticker because I think those will become popular. No transactions will appear on my credit card statement, I will have essential bought a commodity with Google money, which I can cash out like stocks.
Any one of you ever compared Visa/Mastercard ? I asked around me after reading this to some people around... a card is a card, as long it works...
A site like paypal is different it's more like a bank you choose from, people will choose on this differently, an other thing is abot security, do you feel safe with paypal ? I don't. So much that i certainly will close my paypal account (There's years i want to close it but they don't let me) and go to google.
Is google more secure ? I don't know, but the fact is i never seen google down.
Paypal isnt so much the most popular service because it's "easy"
Many other services are just as easy to use as Paypal. No the biggest reasons are:
- Its "the brand" so far as online payments go. Most people use paypal, so other people get brought in my default.
- Its trusted. For online payments, this is a HUGE deal.
- Its cheap. Really, look at what people have to pay for online banking. If you want to setup an e-commerce website, alot of payment gateways charge a monthly fee, then take a huge percentage of your revinue. Plus, payout rates ( how fast you get your cash )are much higher with Paypal then most gateways.
- It acts as a credit card proxy, so if you have a MC or Visa, you can pay with Paypal without the fear of giving out your credit card number.
- Its in bed with eBay. Alot of peoples first need for a payment service is because they bought something on eBay. Once they have an eBay account, if they buy something else online, why sign up for a different service when the one you use already works?
So, there are many reasons beyond "it's easy" that Paypal is popular.
PayPal charges 2.9%, not 1.9%. The only people who get the 1.9% rate are those who deal over 100,000 PER MONTH.
People use PayPal because Ebay demand that they do. Crucially paypal means that you don't have to give bank details to customers/suppliers.
There's e-gold, GoldMoney etc. They're basically banks, can do instant payments. The difference being you can actually get your hands on the gold.
Deleted
Who pays depends on the slope of the demand curve, which is a fancy way of saying whether the merchants can raise prices without losing business.
Put a 50% tax on scrub brushes, and the price won't go up because no seller would risk having all his customers buy mops instead. Put a 50% tax on gasoline, and the sellers will cheerfully pass it along in full.
In general the burden of a tax gets split between seller and buyer in a ratio that depends on how much the market will bear.
Bankrate.com keeps track of the highest yeld savings accounts in the country, along with many other rates, like mortgage, credit card, car loan, etc.
One thing we (at work) use paypal for is to pay each other. When we go out for lunch/drinks, one guy in the group picks up the tab for the whole group and he sends paypal requests to the rest of us. We just pay him with a click. So simple, no need to scramble for cash or trying to break a $20 bill (b/c every one has 20s) to pay $11.34 :-)
Does Google Checkout has this? I can't spot this from the 'take a tour' plug
This is a real nice feature and would really like to see it in GOOG version