Google to Add Payments in EBay Threat, Analyst Says (Update3) June 9, 2006 16:43 EDT -- Google Inc., the most-used Internet search engine, will start an online payment system this month that will challenge EBay Inc.'s PayPal and let Google offer more targeted ads, an analyst wrote.
http://purchase.google.com/ - It just redirects at the moment. Google 'Google purchase' and read some stuff. If you go to http://purchases.google.com/ it will allow you to change your info, but it's nothing to do with purchases (yet). Somone got a screenshot also, here.
I think I just pee'd my pants...I hope they offer a way to be paid into this "account" and enough online retailers accept it to be of some use . Paypal has its obvious flaws, hopefully Google can get it right .
A little fresh story on that topic http://www.forbes.com/markets/equities/2006/06/09/google-0609markets09.html not my site
Sooooo slow that link, so I copy paste from the link you have supplied RBC Capital Markets maintained an "outperform" rating on Google in light of the impending launch of the company's online payment system, currently known as "GBuy." Consumers using GBuy, which is set for release on June 28, will be taken off the merchant's site to complete the payment. This will enable Google (nasdaq: GOOG - news - people ) to capture e-commerce transaction data, driving more precise targeting in future searches. "If harnessed, the precision of this targeting could be revolutionary," wrote RBC analyst Jordan Rohan in a report Friday. On its core search results pages, Google will designate each merchant accepting GBuy as a "trusted GBuy merchant." If consumers view this as a mark of safety and security, Rohan believes this should increase click-through rate. The analyst expects some resistance from merchants who will fear that Google will use the transaction data to charge them more for sponsored links in the future. Google's bid rank algorithm is influenced by click-through rate, and would, therefore, favor GBuy merchants, he said. GBuy looks to be a direct competitor to PayPal's "off-eBay (nasdaq: EBAY - news - people )" initiative, which is still early in its development, Rohan added. During the beta phase, Google will not charge merchants for its payment service. After some period, the analyst believes Google will charge 1.5% to 2%, in-line to slightly below that of PayPal. "Short term, GBuy is more negative for eBay than it is positive for Google," Rohan said. "Longer-term, it could be a game-changer."
i will surely go got it..... itz great news... hoping tht i will make online transaction less painfull .. all over the world (this feature is important)
i just wonder they will be sweet like honey or difficult like peanut butter. anyway, paypal had the experience to deal with fraud and people use it for a long time.. let's see if they will win in this market.
Canadian Analysts Favor GBuy Doug Caverly | Staff Writer RBC Capital Markets believes Google's new online payment system, called GBuy, could be the next big thing. The financial services provider, based in Canada, is maintaining its "outperform" rating on Google due to the perceived potential of GBuy. GBuy is due to be released on June 28. It will take users off merchants' sites in order to complete payment, which will allow the search engine giant to gather e-commerce data. This could, in turn, drive more precise searches. "If harnessed, the precision of this targeting could be revolutionary," RBC analyst Jordan Rohan wrote. He also thinks Google's plan to designate "trusted GBuy merchants" in its search results may help build a consumer base and generate sales. The label would (in theory) mark safe and secure sellers. Rohan believes GBuy merchants would benefit from increased click-through rates in another way, as well. Assuming Google's search algoritithms are influenced by that rate, GBuy merchants might see higher rankings. Some companies may fear that the transaction data will lead Google to charge more for sponsored links in the future, however. Google has said it will not charge merchants for its payment service for an unspecified period of time. After the beta phase passes, GBuy will probably charge 1.5% to 2%, which is roughly in line with the fees of PayPal, an established provider. Many people view GBuy as a competitor with PayPal's recent "off-eBay" intiative. "Short term, GBuy is more negative for eBay than it is positive for Google," Rohan said. "Longer-term, it could be a game-changer." It seems like RBC Capital Markets is favoring that possibility.