Google’s GBuy, An Online-Payment Option
Google Inc. has decided to preface a beta version of its GBuy, an online-payment service, as early as this week. Google’s GBuy will be revival of eBay Inc.’s Paypal and such other companies. To allure customers, Google’s GBuy will offer undisclosed amount of rebate to consumers who fulfill online purchases through GBuy.
The service will be integrated with Google Adwords. There will ads on Google search pages, next to the ads will be an icon or symbol showing that the advertiser is accepting payments through Gbuy. Although consumers will be taken to the merchant’s site when they click on the ads, they will be able to use GBuy checkout process on the merchant’s site.
Merchants will be charged a 2.2% commission on a sale, along with 30 cents per transaction through GBuy. The fee per transaction is same as PayPal but the commission rate is also lower compared to Paypal’s commision rate of 2.5%. There are no discounts to be offered for Adwords merchants who plan to use GBuy as one of their payment option.
Techguy said,
June 27, 2006 @ 7:21 pmHmmm…I really wonder if eBay will integrate this into their system.
thaibanker said,
June 27, 2006 @ 7:33 pmno @ vec, The commision fee of GBuy is NOT higher, its LOWER! Unfortunately that is what Wall Street Journal reported. stupid reporters if you ask me.
Paypal is .30 PLUS 2.9%, NOT 1.9%. If you take in more volume, the % drops obviously.
Wall Street Journal wrote PayPal is 1.9% but failed to mention it need to take in 100k per year to get that rate.
GBuy looks promising.
RSS feed for comments on this post · TrackBack URI
Apple
Browsers
Miscellaneous
Office
Ubuntu / Linux
Windows
Wireless
Vec said,
June 27, 2006 @ 4:59 pmHaha, I don’t think Gbuy will be a success unless it take over auction business like ebay which is owned by paypal. It needs to be accepted every where first before it even expands and the higher fee scheme is gah!