Google to Unveil Web Payment System

GHoosdumGHoosdum Icrontian
edited June 2006 in Nerdery
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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