Google to start payment service to compete with Paypal.

ndleo

I don't know if Google can compete with Paypal since Yahoo couldn't make a dent, but at least someone is trying. The article also stated that 25% of ebay's revenue comes from Paypal.

ctsoxfan

It's going to be tough, mainly because Ebay owns PayPal - but if there is any company that can make a credible attempt at this, it's Google.

yankeeno7

Would Ebay be forced to take this type of payment if it became popular enough? I dont see ebay allowing its use on ebay auctions....at least directly linked.

goudeygold

ebay has ZERO incentive to allow google payments. google has to keep taking over if they are going to continue to justify the share price and expectations. google is full of some smart basstards with fresh ways of doing things. the secrecy pissses off wall street blue suits, but then again the share price has tripled in less than a year... personally I wouldn't put anything past them. Just like what wal mart is trying to do, I think google essentially has enough cash that they will in essence start their own "bank" and lending services. In the end google is very likely to be an all encompasing "brand". no I don't own any stock at this time, but the recent dip is making me think about it again...

GG

Knuckles

Be nice to see google start up an online auction service to go along with a payment service. They could pull it off and give eBay some real competition.

ndleo

I think we need to split up the auction and payment services when taking about ebay and competition. I don't think a competing auction service would do us any good. It would already split a shrinking collector base. Plus I think ebay does a fairly good job running the auctions.

I totally support a new payment service. To me payment services are a commodity and competition will bring the lowest price. I think ebay will have to accomodate Google since they are the largest advertiser on Google and where else could they go. Plus I think the FTC will force them to open up their auctions to other payment services since it would be a restraint of trade not to allow it. This point isn't certian, but I'm sure a good lawyer could make it work.

goudeygold

I don't know about the FTC getting involved especially since ebay payment involves person to person transactions. ebay doesn't take money for actual goods really. if its person to person then you simply have money orders, cash, check, paypal, or direct credit cards as a merchant. but you have to admit ebay buying paypal was one of the smartest things they could have done back in the day.

I do think paypal fees are a bit stiff but convienencs comes with a price and its obviously worth it to 70 million plus accounts.

interesting though i'll agree,

GG

1974topps

This is a new service with a twist. Maybe it can compeate with paypal? LINK; http://www.greenzap.com/join-greenzap.asp?zapid=1974toppsbaseball Text

julen23

I agree w/ GG for the most part. Is this a fact that google is attempting to provide some paypal-like service? I don't see anything currently on their google.com site?

Their current site is a giant portal, so they would have to recreate the current site or make another site dedicated to pay-pal like service. I really don't see the need for google to vie for payment service revenues, especially against 'mother e-bay'? I wouldn't compete w/ e-bay in this area, unless they are knowing something that general public doesn't know?

Julen
__________
Collecting:
1980 Topps: Over 4,000 cards from vending and wax boxes awaiting a giant bonfire
1969 Topps: 1969 Topps Master Master #11
1987 Kraft Dinners Home Plate Heroes

jrdolan

<< <i>This is a new service with a twist. Maybe it can compeate with paypal? LINK; http://www.greenzap.com/join-greenzap.asp?zapid=1974toppsbaseball Text >>


GreenZap smells like one of those pyramid multi-marketing things. Somebody was here not too long ago pimping GreenZap, saying he got a lot of money dropped into his account for no particular reason (uh, right) and everybody should join up and share the riches. As with all of those pyramid schemes, you have to ask: If you get money for joining, where does it come from? Why, the people you con into joining, of course.

I have a lot more confidence in Google, and I wish them well. The fact that I own stock has nothing to do with it!

phreakydancin

<< <i>Would Ebay be forced to take this type of payment if it became popular enough? >>



<< <i>ebay has ZERO incentive to allow google payments. >>

eBay cannot allow or disallow online payments through a competing service any more than they can prevent payments via check/money order/etc. Remember you are paying the seller, not eBay, and it is up to the seller to determine what forms of payment they will accept. The only difference between the new service and Paypal is that it won't be integrated into eBay through automated prompts ("Pay Now >" button).



<< <i>I don't see anything currently on their google.com site? >>

Google never provides links to their beta projects. There are no links to Gmail or Google Maps on their home page either.

EDIT: Does someone have a link to the news article?

ndleo

Here is the Motley Fool article.

Paypal Blows

ndleo

Looks like Meg Whitman at Ebay called up Google and beat them down. Too bad for us.

Big Bad Meg

julen23

They are fools for competing w/ e-bay. They must have big $$$$ to spend on nothing.

I thought the dot.com thing was over?

Julen
_________
Collecting:
1980 Topps: Over 4,000 cards from vending and wax boxes awaiting a giant bonfire
1969 Topps Master: #11
1987 Kraft Dinners Home Plate Heroes