Google to Unveil Web Payment System

GHoosdumGHoosdum Icrontian
edited June 2006 in Science & Tech
Google is expected to reveal their new online payment system, GBuy, in an announcement later today.
"GBuy is focused on consumer-to-merchant transactions, but there is no reason why it eventually could not be expanded to consumer-to-consumer," he wrote in a June 9 note to clients.
...
Rohan said the service will be free during a trial period, then it will begin charging a rate of 1.5 percent to 2 percent on payments, which is equal to or slightly below the rates charged by PayPal.
Since eBay's shares fell in response to the announcement, it seems that there is a broad concensus that GBuy will eventually rise to challenge the primacy of PayPal.

Source: Reuters

Comments

  • airbornflghtairbornflght Houston, TX Icrontian
    edited June 2006
    I wonder if it can compete with paypal. Hopefully the transaction fees when someone sends you money wont be as much as paypals are.
  • EnverexEnverex Worcester, UK Icrontian
    edited June 2006
    Well PayPal sucks massive donkey balls at the moment so I hope it will replace PayPal too.
  • GHoosdumGHoosdum Icrontian
    edited June 2006
    Enverex wrote:
    Well PayPal sucks massive donkey balls at the moment so I hope it will replace PayPal too.

    My thoughts exactly, right down to the donkey balls.
  • airbornflghtairbornflght Houston, TX Icrontian
    edited June 2006
    GHoosdum wrote:
    My thoughts exactly, right down to the donkey balls.


    I was going for masive donkey balls.:D
  • youbet
    edited June 2006
    If payapl was the donkey balls i would kick it :)
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