Google might start a service to compete with PayPal
June 20th, 2005 Leave a comment Visited 92 times, 1 so far today
Google might start a service to compete with PayPal
PayPal is one of the most popular methods of paying on the Internet without using the credit card. In fact, no cash transaction is generally involved as users can just transfer money using their e-mail ids. It comes powered by the web giant eBay, which earns almost a quarter of its revenues from PayPal.
However, it seems like problems are in store for them as the latest reports in claims that Search Engine Giant Google is considering entering this online payment module market. eBay is a big customer of Google’s online advertisement system and such a move can prove to be quite costly for the e-commerce giant.
The story was first reported by the Wall Street Journal, which also takes the credit for reporting the Apple’s switch to Intel Processors for the first time on the Internet. WSJ cited sources familiar to Google Inc. and are said to be quite trustworthy. Google on their part have refused to comment on these rumors floating on the Internet.
Analysts believe that Google’s entry into the online payment system can be quite damaging for the eBay group. It collects a sizeable amount of fee for the online transactions and competition from Google would lead to depleting profits affecting the day-to-day running of the company. Google has good reasons to look into this market considering a bulk of their revenues come from the online advertisement market which is expected to get complicated with the entry of Yahoo! and possibly Microsoft services later this year.
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June 20th, 2005 at 7:30 am
Oh dear GOD. PLEASE let Google compete with PayPal! PayPal and eBay share not only a common business, but a common disregard for the very people that make them successful. Ever have a complaint with eBay and get anything other than what amounts to a form letter? Ever hear eBay admit they ever did anything wrong? Ever have a beef with PayPal and get, “Sorry, that just isn’t covered in your protection plan”. eBay and PayPal both behave badly because they have what amounts to a monopoly. Placing a big player in the mix to compete with PayPal can only improve things.
June 20th, 2005 at 8:24 am
I m very glad to hear this and I hope it is true. I will be an early adopter. eBay, for years has ignored their customers and tried to push their programs upon us. I believe in freedom to choose…… I will not let anyone impose upon me.
Good luck and thank you to all you forward thinking engineers…..
I hope everyone had a good Father’s Day…….
June 20th, 2005 at 8:49 am
Hooray for Google to compete with Paypal!! Now, they we don’t have to deal with Ebay / Paypal’s arrogance. Google is a much more customer responsive and classy company then Ebay or Paypal. Come on Google – lets get this rolling and kick Paypal’s b*tt. The day Google starts this, I will cancel my Paypal account so I don’t have to deal with their BS anymore.
June 20th, 2005 at 9:39 am
Love it. Paypal fees are too high.
June 20th, 2005 at 10:54 am
HELLO? Anyone out there work at Google? Do us all a favor and structure this to include the services now from Xoom.com & Bidpay.com to allow transfers to and from overseas. This is a major failing of the disconnected payment system that truly prevents Ebay from going world-class.
I realize that some readers here have never seen a black & white television (screen image, not the outer casing), however there are a significant number of people on the planet who have a nearby post office and internet access, but no automated banking.
Case in point: Try to send $25 electronically to a Spanish Ebay vendor. Impossible. You can send $25 to Philippines but it takes 3 to 4 weeks.
If Google can achieve electronic overseas banking for small payments, they will rule the world. (Better them than Bill Gates…)
Frankly, I don’t care if I save money – I want the convenience. Get the message, Google? Name your price.
June 20th, 2005 at 10:56 am
HOORAY!! i certainly hope it’s true too. i love the people at google.
June 20th, 2005 at 11:11 am
One of the big problems with paypal is that it puts your email address out there when you want to accept payments from them. I get more spam on my paypal email address than anything else.
Hopefully Google will come up with something better
June 20th, 2005 at 11:24 am
YESSSSSS!!!!!!!!!!!!!!!!! I will be first to use it! And I will make sure allllll my buyers on the auction sign up with Gpal or gpay or gmoney.. whatever they call it.
I hate it when paypal and ebay both ripped me off 2.9% each on every transaction on ebay. But to top it all off, their customer service is awfull.
June 20th, 2005 at 2:44 pm
Wow. This is quite a surprise. I don’t trust myself sending my money online. However, since it is Google, I might reconsider it. As I read the comments, I heard that many people dislike the service from PayPal. How interesting. I like Google and with this plan, they might help balance the frustratation of many customers. Anyways, GO GOOGLE! ^-^
June 21st, 2005 at 8:39 am
My birthday wish is comin true. I hate paypal and I hope google does do this. This could be really good. The support of Paypal sucks.
June 23rd, 2005 at 2:36 am
Hopefully eBay doesn’t prevent the use of Google’s competing service somehow. Funny thing about companies with monopolies, they hate to just let it slip away…
June 23rd, 2005 at 9:00 pm
HOORAY for GOOGLE! I can’t wait until someone finally breaks up that monopoly! Can’t beleive it took so long from someone to come up with it! Glad it was GOOGLE! I will be among the first to sign up for GOO-PAY! Congratulations to everyone at GOOGLE and I wish them much success. But don’t forget, we the consumers are the ones whom will keep you in business, so please do make sure your customer service is outstanding! MM – in NY
July 11th, 2005 at 3:57 pm
Sorry, no, this is bad news. Google are becoming the Microsoft of the 21st century. Too much power in one place is not good. By all means lets have some competition in the online payment market, but dont let Google have it all their own way.
August 2nd, 2005 at 11:41 pm
I hate Google, and I understand Pete’s comment… BUT it has to be a big company offering paypal competion, or it will flop. So, go Google. Both Google and Paypal will have to offer good service. A Google-type-paypal will not “end” paypal, but rather take a significate portion of their business–for a time. Paypal will improve, people will begin offering both payment options, and things will balance out.
September 10th, 2005 at 9:54 pm
Go GOOGLE…..Paypal has for years been the biggest PAIN in the ASS I have ever experienced….BAR NONE…..RJ
October 14th, 2005 at 11:45 pm
I too will be rushing over when this happens. They should call it Go-Pay
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March 22nd, 2006 at 12:50 am
I hate Ebay – is there any other auction web site that cares about their customers – I hate it when i have a question and have to use the live chat instead of calling a number – I did a google search on ebay phone numbers and finally found an ebay number – I called it 6 times and spoke with an operator who kept flipping me to customer service that never came on the phone – I waited one time for 20 minutes with no one coming on the phone to talk to me – I HATE EBAY AND HOW THEY HANDLE THEIR CUSTOMERS…