GBuy versus PayPal?
p2p news / p2pnet: "Having uninstalled Google’s bloated Desktop Sidebar and the flaky Toolbar 4 beta – and looked at Google Base, the bodged Google Pack and the awful Google Video – I have diminishing faith in Google’s ability to deliver software that is intelligently designed and works reliably," writes Jack Schofield in a Guardian Unlimited Post.
His observation comes at the tail-end of an item in which he points out that in a Wall Street Journal article mainly about PayPal boss Jeff Jordan is the suggestion that PayPal may soon have to contend with Google.
"The Mountain View, Calif., Web-search giant, which has terrified Silicon Valley with its ability to quickly create new consumer products and services, is developing a rival service called Gbuy," says Schofield’s WSJ clip.
"For the last nine months, Google has recruited online retailers to test GBuy, according to one person briefed on the service. GBuy will feature an icon posted alongside the paid-search ads of merchants, which Google hopes will tempt consumers to click on the ads, says this person. GBuy will also let consumers store their credit-card information on Google."
The WSJ says PayPal generated 23% of eBay’s total $1.3 billion quarterly revenue in the last quarter, the Guardian item continues, and, " I can believe it. PayPal is far from cheap, and only pressure from eBay stops many sellers from charging PayPal users a premium to cover the cost," says Schofield, adding:
"This is one area where a cut-price Google-backed system could get a warm welcome."
Also See:
Guardian Unlimited – Google’s Gbuy to take on PayPal?, February 6, 2006
Wall Street Journal – PayPal Prepares For a Challenge From Google, February 6, 2006
February 7th, 2006 at 1:48 pm
Hmmm,
Considering that google would ban a user for “suspicion of maybe
allegedly using what could be ( undefined ) unethical practices ..
( we don’t need to be clear, we’re Google ) ” I wouldn’t put them
in control of ANY of my bank accounts.
February 7th, 2006 at 4:12 pm
Good! Paypal…E-Bay for all the reasons quoted.
February 7th, 2006 at 4:41 pm
PayPal is no different — trust me.
February 7th, 2006 at 10:18 pm
Enterpin.com!!!!
February 8th, 2006 at 4:26 am
The article was plain, simple, straight-forward. I had no difficulty understanding what was being reported. Then I started reading the comments.
I have a couple of questions for all those posters (the few of them): What did you say? What did you mean? If you wish to engage in arcane riddles, why bother to post?
One post was nothing more than a link. I clicked. Big deal: a page full of ways to get credit cards. So, who cares? And what did it have to do with gpay or paypal?
If paypal is no different from gpay, what was the point of saying so? It certainly offered no input for a person who might want to make a decision as to which service to use.
The only enlightening comment came from the person who informed us that ebay pressures its sellers to eat the high fees involved in transferring money electronically. But I’m under the impression that ebay sellers are making millions every year and can easily afford it.
So, I am wondering: does anyone have any constructive input (critical or otherwise) as to what the advantages might be of one service over the other? To date, after more than five years of using paypal, I have never had an problems with them. It is my understanding that the fees they charge the recipients of the money transfers are high (perhaps excessively high). I would never use paypal to send money to a needy relative (only to have paypal reap excessive profits at the expense of my needy relative).
This field of endeavor could prove to be a moderately lucrative business venture for someone willing to make an honest living as opposed to having a get-rich-quick scheme.
In fact — anyone with a little knowledge about how someone might get started in a business venture like this — his input would be welcome and refreshing.
February 8th, 2006 at 6:57 pm
As a moderate-volume seller on eBay, my company would very much like to see Google’s payment system become a formidable alternative to PayPal. PayPal and eBay have monopolized the online auction and payment business for too long. They go way too far in attempting to secure that monopoly and their policies and practices are testament to the fact that they have developed elephantitis of the cranium.
PayPal is currently a convenient way for buyers to make auction payments, but it can be a nightmare for sellers if they rely on it. PayPal is known for routinely “limiting” user’s accounts and holding funds without justification. They are also well known for allowing chargebacks from unscrupulous buyers.
An example can be seen with our results for 2005. We had eBay revenue of about $200,000. Between March and December 31, we did not accept PayPal as a payment option because they pulled the “limited” nonsense on us once. We were able to have the account restored, but only after nine days of faxing documents and waiting for mostly rude and moronic PayPal employees to review the matter. When it was all said and done, there was no real explanation or any type of apology. The only statement they made was that the account was being reviewed “as part of a routine security screening.” Since we had no reason to believe they wouldn’t do this sort of thing again, we decided to drop Paypal entirely. During the nine months of 2005 in which we did not accept PayPal, we received over $56,000 through the competing, but now defunct, BidPay. The rest of the buyers chose to use mailed money orders or checks.
During those nine months, we found that our auction selling prices were not affected by removing PayPal. We also found that the type of buyers who can’t be pleased and those who attempt to commit fraud were virtually non-existent. It seems that PayPal is the payment medium of choice for scammers and the incessant whiners who want something for nothing.
On January 1, we began using PayPal again to fill in the void left by BidPay. We are just beginning to see problem buyers again. My company has a physical store in the Pittsburgh area and a merchant account. We have researched the idea of adding a gateway and accepting credit card payments directly, but haven’t found a win-win solution yet. Hopefully, there will soon be a PayPal competitor that could be at least somewhat easy for buyers to use and more secure for sellers than PayPal. There are hundreds, if not thousands, of medium and high volume eBay sellers who would like to see a viable alternative to PayPal. Even if they stayed with PayPal, perhaps PayPal would be forced to play fairly and offer better service.
February 9th, 2006 at 4:23 am
If you ever sold on ebay you would not be so naive. Ebay and Paypal eat a seller up with fees!