GBuy (Google online payment processing service), direct PayPal competitor, is to be released on June 28. The entire process works much the same as of PayPal: the buyers will be taken off the merchant’s site to complete the transaction. Google will collect payment information and in the future will provide improved personalized search results for that particular individual. Added to that in the search results the top search engine plans to designate each merchant accepting GBuy as a “trusted GBuy merchant.”

Google did not announce the rates yet, but it is believed that they will be just a bit below PayPal rates.

Read the full story here.

Summary:
Many online sellers that do not have a merchant account will get an extra option (added to PayPal). No doubt, Google will offer a great service. I am not sure GBuy will operate on eBay.com. In fact, I am sure it won’t – eBay owns PayPal and will not let the direct competitor to penetrate its key market. But owners of small and mid sized stores are likely to benefit from GBuy. It is too early to say if the service will be available to the international members from the start. I think it is a question of time.

[tags]paypal, ebay, GBuy, online store, e-commerce, google[/tags]

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This entry was posted on Monday, June 12th, 2006 at 1:31 am and is filed under Affiliate Marketing, General Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.