Give Google credit for one thing: The search giant has a way of generating a lot of buzz.
This week, possibly as soon as Wednesday, Google is expected by many to unveil a new Internet payment system. It may start out as an online wallet but could become a PayPal-like infrastructure for payments across the Web, handling everything from skis to music and videos, analysts said Tuesday.
Interesting as that may sound, Google execs have actually said little about this service publicly. But--as has been the case with most other assumed product launches, from the successful Google Earth to the so-called
Google Cube co-founder Larry Page was supposedly going to unveil at the Consumer Electronics Show in January but never did--that hasn't stopped Google watchers on Wall Street and in the blogosphere from going into high predictive mode.
"There is quite a bit of excitement and buzz among merchants," about Google Gbuy, as reports have called it, said Safa Rashtchy, an analyst at Piper Jaffray.
Rumors of a Google payment system have been circulating for months. Two weeks ago, Google Chief Executive Eric Schmidt confirmed that the company was testing a system that aimed to speed online purchases, but he said it would not compete directly with eBay's PayPal. The system is targeted at advertisers and not general consumers, Schmidt said during a meeting in New York hosted by Conde Nast's Portfolio business magazine, without elaborating.
Google released a vague statement Tuesday saying: "Billing and payments have historically been a part of Google's advertising programs and online services. As we've previously announced, we offer users the ability to buy items on Google Base and at the Google Store as well as pay for services like Google AdWords, Google Video and Google Earth. We have nothing specific to announce at this time."
Perhaps coincidentally, company executives also were scheduled to host a talk on "Micro-payments trends and news" at Google's Mountain View, Calif., office Thursday night. The talk was part of a scheduled meeting of BayPay, a networking group for people who work in the payment industry in the San Francisco Bay Area.
Even if Google isn't publicly spelling out the details of its payment system, other people are doing it for the search king. As a wallet system, Gbuy would let shoppers carry their payment information around to multiple different merchants and save them the time of having to enter their credit card and billing data every time they shop, Rashtchy said. Users are expected to be offered rebates, and merchants can get discounts on ads.
Gbuy has been billed by some reports as a "PayPal killer," but it's likely to be much more, Rashtchy and other analysts said.
"I think that if this thing succeeds, it will eventually succeed where PayPal hasn't...as an efficient payment mechanism for a wide range of e-commerce transactions," Rashtchy said.
It would also succeed where Yahoo and Microsoft have failed, he predicted. Rashtchy said he used to use Yahoo Wallet, which lets people store their credit card and billing information when shopping on the Yahoo network. However, it didn't gain traction with merchants, he said.
Granted paypal is cheaper than a merchant accounts, paypal user to user transactions with accounts that are already funded should not charge the same for those transactions. Right now it is about ~3% For merchants this is a lot of money.
Ebay is raking it in without any improvements on service or features. (google all the "I hate paypal" websites and "Paypal sucks" websites.
Granted paypal is cheaper than a merchant accounts, paypal user to user transactions with accounts that are already funded should not charge the same for those transactions. Right now it is about ~3% For merchants this is a lot of money.
Ebay is raking it in without any improvements on service or features. (google all the "I hate paypal" websites and "Paypal sucks" websites.
I would love to see GOOGLE cards in check out lanes
Just think among the ITUNES and WORLD OF WARCRAFT cards that we buy for online purchases and gameplay that google could come out ahead of any only payment system if they had a prepaid card that anyone could buy at any retail store like BEST BUY or Safeway and Giant.
Just thnk of the ability to transfer the emoney to any other online store.
"Give Google credit for one thing: The search giant has a way of generating a lot of buzz."
No, google doesnt generate buzz. Its the media types who generate the buzz by fawning all over google to prove to their fellow media types how 'hip' and 'tech savvy' they are.
Anyways, Google's got enough control of the worlds information. The last thing that company needs is control over finances. I'll stick to paypal, thanks.
As for chance of success - eh. I know its all the fad to swoon over google, but truth is other than searching and online advertising, they havent had tons of success at any of their other apps. Google video? awful. Froogle? Near useless. Google Earth? Fun, but they didnt even write it (A sin for microsoft, but google gets a pass from the geek crowd I guess). EBay, on the other hand, has a consistent record of success in the financial realm. My money stays with them.
Google makes the Web work. Website owners can create good websites and let Google make money for them. Before Google, you had to do everything yourself. i.e., get the advertising or sell a product, and do the marketing.
These days you can create an interesting website, and use Google services to get the traffic, and the best part is Google ads pay you for your effort.
What other company gives an incentive to create a good website? Certainly not Microsoft, they are too busy with Windoze to innovate on the Web.
"What other company gives an incentive to create a good website? Certainly not Microsoft,"
You mean, the same microsoft who put a web browser on every desktop? If not them, what about netscape? Those two have had far bigger impacts on 'providing incentive to create a website' than google ever will have.
I delete mail in my Gmail account and Google keeps it around on their servers for as long as they want to, use it in ways that make them money and open me to the risk that it will be retrieved in a future lawsuit or possible government invasion of my privacy...
I google this and I google that and all the while Google is tracking me and monitoring my usuage so as to better 'serve me' with ads...
Do I REALLY want them keeping track of what I buy, when I buy it and how often just so they can 'know my habits' better to make them more profit?
Nope... not me!
Though I do wish PayPal was accepted at more websites for online transactions... but they are getting more and more sites to use them!
It's good that google is trying to put out a similar product to paypal cause right now, they don't have any competition and it's competition that forces companies to change pricing to benefit consumers.
Web giant is spending $120 million to beef up its Mountain View, Calif., headquarters, according to filings with the city reviewed by the San Jose Mercury News.
The Samsung Galaxy mini 2 S6500 could make its debut at the Mobile World Congress in Barcelona later this month, according to a leaked promotional image.
Tor's "obfsproxy" technology would make encrypted data look innocuous and let it dodge government censors. That could help citizens in Iran reach blocked sites as antigovernment protests reportedly loom.
MIT creates a simulation to celebrate the 50th anniversary of Spacewar. A relic of the early days of minicomputers, it was one of the first computer video games and set the stage for many others, including Asteroids.
George Lucas has just released his version of "Star Wars" in 3D, but c'mon--the guy believes Greedo shot first. Why not make your own Star Wars world? In the first installment of a Crave series, a crack team of crafters fight the power and turn paper bags into the Rebel Alliance's Admiral Ackbar. It's a sack!
Ebay is raking it in without any improvements on service or features. (google all the "I hate paypal" websites and "Paypal sucks" websites.
I would like to see google enter this market.
KM
Ebay is raking it in without any improvements on service or features. (google all the "I hate paypal" websites and "Paypal sucks" websites.
I would like to see google enter this market.
Kieran Mullen
Just thnk of the ability to transfer the emoney to any other online store.
So far just a pipe dream.
"Give Google credit for one thing: The search giant has a way of generating a lot of buzz."
No, google doesnt generate buzz. Its the media types who generate the buzz by fawning all over google to prove to their fellow media types how 'hip' and 'tech savvy' they are.
Anyways, Google's got enough control of the worlds information. The last thing that company needs is control over finances. I'll stick to paypal, thanks.
As for chance of success - eh. I know its all the fad to swoon over google, but truth is other than searching and online advertising, they havent had tons of success at any of their other apps. Google video? awful. Froogle? Near useless. Google Earth? Fun, but they didnt even write it (A sin for microsoft, but google gets a pass from the geek crowd I guess). EBay, on the other hand, has a consistent record of success in the financial realm. My money stays with them.
Website owners can create good websites and let Google make money for them. Before Google, you had to do everything yourself. i.e., get the advertising or sell a product, and do the marketing.
These days you can create an interesting website, and use Google services to get the traffic, and the best part is Google ads pay you for your effort.
What other company gives an incentive to create a good website? Certainly not Microsoft, they are too busy with Windoze to innovate on the Web.
Go Google :)
You mean, the same microsoft who put a web browser on every desktop? If not them, what about netscape? Those two have had far bigger impacts on 'providing incentive to create a website' than google ever will have.
I delete mail in my Gmail account and Google keeps it around on their servers for as long as they want to, use it in ways that make them money and open me to the risk that it will be retrieved in a future lawsuit or possible government invasion of my privacy...
I google this and I google that and all the while Google is tracking me and monitoring my usuage so as to better 'serve me' with ads...
Do I REALLY want them keeping track of what I buy, when I buy it and how often just so they can 'know my habits' better to make them more profit?
Nope... not me!
Though I do wish PayPal was accepted at more websites for online transactions... but they are getting more and more sites to use them!