GBuy=Google's Paypal Service

I think the market could definately benefit from having a major competitor to Paypal, although I am somewhat sceptical about whether Google can pull this off, the potential is definately there.

 

Looks to me like the Banker always wins and this move could make G both omnipresent and onminpowerful in terms of internet trading.

Ebay, Amazon and the rest would have to fall in line which they are unlikely to do in a hurry.

However, possibly the biggest threat to G banking/payment plans might come from the big Banks and credit card companies themselves. That's where the real money stock-holders might just draw the line to G's fascinating diversification excursion.

 

Let's face the realities here.....
I know how most of the people like Google, but the payment service will never work in "Beta Mode"... (there are millions of regulations that they will have to comply with in US ... even afraid to think about other countries)

Now... transaction can not be "0.10" because MasterCard and Visa should take initial "~0.20" (this is a reply to one of the posts)

Google Talk has ~ 1% of the market share and aim ~ 33%

Gmail (I love it)... but again only 4.5% of the market share (I think yahoo ~ 30%)

I could be wrong on exact numbers, but these are ball part figures (I can try to find sources if people interested, but I think it would be slash dot / cnn).

It would take Google years to get into payment market and I don't even know what government will have to say about it.... You have to recall how much grief did they give PayPal couple of years ago... (a lot of people were pushing PayPal to register as a bank and comply with many other standards).

I am sure Google can be a nice competition to PayPal, but it will take them years and this will be way off their main business (they will be spreading wide).

 

Did you like saw this thread, made an account, and started to defend Paypal ?

How much are they paying you ? TRAITOR

 

lol.. I like Google and use a lot of their services... (Especially Gmail and Analytics... but still very concerned with Analytics Launch)

had being reading digitalpoint for quite a while... but had to add something here especially after looking at the post "Google Talk" is taking over the world..

 

Great to have some competition in this segment, I hate to pay so much for my sells to Paypal. Hopefully this will bring down costs to users

 

You think... The admin costs are huge in this area. Also G will have to insure against the inevitable fraudulent attacks that all payment structures have to battle. Sentiment might be cheap but reality is far more expensive. I think this is going to be an uphill stretch for G and there are brick walls at every turn. G loyalists will love everything G, but Bankers love their money and their rates too much to let 'finance/currency/commercial monetary/goods-exchange mechanisms' get too cheap!

 

I think you are right. Sometime ago I overheard from a friend that in fact paypal division is not doing good financially. So your point makes sense about costs etc.

 

Thanks for that... Wouldn't surprise me if your friend is right. Having said all that, it's amazing that G 'believes' it can boldy go just about 'anywhere'!!! I wonder if they'll quote me for cheaper car insurance sometime!

 

oh man. I hope this is true. Can't wait to get rid of paypal.

 

My remark was a sarcastic remark - sorry!

 

Again, I was being sarcastic - that was exactly my point. I think Google has peaked (not sarcastic this time).

 

Why so much hate for PayPal? I think GBuy will never take off, if it ain't broke, don't fix it kinda of thing.

 

I hate paypal. I would use Google in a second.

 

Google is starting to also earn the ire of PayPal,adding to the list of feet Google is stepping on as they offer more services. Gbuy, a system similar to PayPal that facilitates 3rd party transfers of money securely, is what PayPal is concerned about.


”This is where Google has just the right mix to be able to challenge PayPal. Google has search, it has ads, it has presence, it has Froogle. In fact, it has all the necessary ingredients to pose such a big threat to PayPal that Jeff Jordan, PayPal's president, requested PayPal and eBay employees to monitor and watch for any news of Google's development of a service it calls GBuy.“

PayPal really has no rivals currently, being de facto method of payment online, overtaking many others when eBay purchased the company. They have received a lot of flak over the past three years, for poor customer service to the point where lawsuits were filed. Gbuy looks to move in on that exact territory, and this is one of those cases where competition is a good thing – a single provider of one service is rarely productive. From a consumer perspective, this is only a good thing, and we may see both services come out wonderfully.

 

really hope we have GBuy soon

 

This, I am interested in I can't use paypal in my country (other than to send money ) and as G is already able to send adsense checks here, hopefully I'll be able to use it

 

Please check this
http://forums.digitalpoint.com/showthread.php?t=56388

 

See I posted a while before that once you know you have a lot of visitors or members to your website, it will not be that hard to bring out a new product/service.

Here is a small analysis:

PayPal
eBay supports PayPal
PayPal is used by most people because PayPal has no worthy competitor

Google
Everybody uses Google for:

• Marketing
• AdSense
• AdWords
• Searching the web
• SEO
• Froogle and more!

Now I am pretty sure that Google has a much bigger customer/visitor database than PayPal, so it's logical that their GBuy will be a hit.

Another reason that it will immediately take off is because it will most likely send payouts via GBuy for AdSense Publishers, which most people will definitely like.

 

I hope they do. Paypal blows with customer support