GBuy: June 28th

GBuy: June 28th

Summary: A Forbes article posted today seems to confirm the article I wrote about Google Checkout last month.  The article reports that "GBuy" (a PayPal-like service) will be hitting the net on June 28th.

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TOPICS: Google
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checkoutlogo.jpgA Forbes article posted today seems to confirm the article I wrote about Google Checkout last month.  The article reports that "GBuy" (a PayPal-like service) will be hitting the net on June 28th.

According to Forbes, GBuy will allow merchants to use the service free of charge during the beta period.  When it's released from beta, they will begin seeing a small fee (probably 1.5 - 2 percent) on each transaction -- less than PayPal's rates of 1.9 to 2.9 percent (plus $0.30 per transaction).

PayPal is up for some pretty stiff competition -- Google will likely take what they have minus any extra or annoying features.  If it lives up to this expectation, it just might be a product that merchants consider switching to.

Unfortuantely, it will probably be limited to the United States only.  Without an internationally compatible service, adoption of GBuy may be significantly lower due to the number of merchants who conduct businesses across borders -- something that PayPal handles without breaking a sweat.

We will see what happens on the 28th -- I for one am looking forward to some competition for PayPal. 

Topic: Google

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3 comments
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  • US Only?

    No international compatible service? What makes you say that? Maybe at first, but if this gets off the ground I can see them expanding.
    whitetiger0990
    • Re: US Only?

      There are a couple of things that use Google Purchases as a payment method already -- Google Video and Google Base.

      Both of these only work for people in the US. I am in Canada, and am unable to purchase anything on either of the services.

      To go a little further -- the Terms of service for buyers (https://purchases.google.com/termsOfService?type=Buyer) reads:

      Payment Instrument: The credit card or debit card that is registered by a Customer with the Service to facilitate the processing of Payments Transactions. The Payment Instrument must be associated with a billing address in the United States.

      By agreeing to this Terms of Service for Buyers, Buyer represents that:

      * Buyer, if an individual, is 18 years old or older;
      * Buyer is capable of entering into a legally binding agreement;
      * Buyer is a resident of the United States;
      * Buyer, if a business entity, is duly authorized to do business in the United States; and

      And for the Seller TOS (https://purchases.google.com/termsOfService?type=Seller):
      By agreeing to this Seller Payment Terms of Service, Seller represents that:

      * Seller, if an individual, is 18 years old or older;
      * Seller is capable of entering into a legally binding agreement;
      * Seller is a resident of the United States;
      * Seller, if a business entity, is duly authorized to do business in the United States; and

      So you can see that Google purchases, at least right now, is only for the United States. I hope when they launch GBuy they modify these terms to include countries other than the US.
      Garett
      • Re: US only?

        I hope Google won't deny Filipino netizens what Paypal has been refusing to offer us.
        ederic