See this thread on the same subject : [webmasterworld.com...]
uh i searched for Gbuy before post and couldnt find anything sorry :(
I think we can try a thread here that discusses GBUy from a Google business perspective, and a thread in eCommerce from the end user and merchant perspective -- those are very different slants.
With all the innovating Google has been doing, GBuy would be one offering that can generate a revenue stream for them. With all their apparent success, they do have a strong need to get some parallel income streams going and not just be putting out more toys and free services. GBuy could fill the bill.
Not to worry OldWolf, as tedster says looking at it from a different angle is a great idea.
Today WebmasterWorld admin replied my post ..... :)
Well my english not well so i didnt understand what will really can happen.All i wonder is if will they offer a service like paypal,i mean in most countries peoples can withdaw their money on paypal account to their local banks but paypal doesnt care for my country.We have a Google office here so im dreaming if it can come true
I don't like it... It would be better if PayPal was an universal online payment; but anyway, competition is always good.
With the eBay/PayPal relationship solidified, GBuy/Google seems like a natural progression.
Google currently has several payable services (AdWords, AdSense, Google Video, etc.) in addition to their (currently) free offerings. Moving to their own finacial system would dramatically cut their transaction costs. It would also allow them to setup a system for micropayments.
Here's a basic example (these numbers are example ONLY and do not reflect real-life numbers for me.). Let's say I don't live in the U.S., but have an AdWords account and spent $190 in advertising last month. Google charges my credit card for $190 and has to pay ~3.5% in transaction fees (because it's a non-U.S. credit card). I also have an AdSense account that earned me $200. Google cuts a $200 check and pay the postage to mail it overseas. I decide I want to buy $10 worth of stuff in Google Video. Again, I use my credit card and Google pays another 3.5$ in transaction fees.
With GBuy, this scenario would result in 0 revenue/income for Google ($200 = $190 + $10) and minimal (if any) transaction charges for Google. Currently, instead of breaking even, Google ends up losing somewhere around $6-7 on this set of transactions.
Lifeinasia, transaction costs would indeed be cut and over thousands of transactions . . .
Not so much saving. Paypal still costs a few % because they need to pay visa/mastercard.
Google still need to pay them off like any other company charging cards.
|Google still need to pay them off like any other company charging cards. |
Sure, there would be some cost, but the total ammount could be reduced dramatically. If the balance in my GBuy account were debited and credited with only the ocasional Visa/Master Card transaction, G could keep the 2.1%-3.5% typically passed on for many of the routine transactions I make.
The key to mass migration will be making the user interface useable. PayPal is still far too annoying for many of my clients.
Looking forward to the carnage on this. Their current financial "systems" are chaos if you ever get to see them close up. And one would imagine they'd have this bit figured out before thinking about a financial service.
Eg, Accounts dept do a great job but they haven't been given access to campaign performance, underspends, overspends etc so need to depend on Sales dept who also generally do a good job but haven't a clue about the accounts stuff.
Credits have to be chased by the advertiser and then need to be *manually* generated by the credits team which normally takes weeks.
Strange that they take money automatically but refund manually (& I'm not talking about fraudulent clicks) They're creaming off millions with this one scam alone.....
Yeah, can't wait to use Gbuy
It will be great if it also helps withdrawing payments in Indian Banks.
As paypal does not provide this service currently. It is limited to US, UK and some countries.
The biggest things would, of course, be marketing, branding and trust.
I believe they could take PP on and make a go of it. PP is still seen by most as an ebay thing.
It looks unprofessional and suffers with an association with ebay for many users.
many people confuse PP popularity with the ability to pay by card.
There are only two players that could take PP on: Google and MSN, MSN would suffer from inevitable perceived security issues, so only G could realy do it
If Gbuy does to PayPal what Adwords does to Overture then it's goodbye PayPal for me. I waste upwards of an hour per day "waiting" on PayPal as I process orders. Even when they're having a fast day I'm still required to make way too many clicks just to print a shipping label.
Competition is always good, but.... I dont like G trying monopolize the internet, they shoot money in any side. Earth, Maps, Adwords/Adsense, Base, Toolbar, Video, Media, Mail, Orkut, Base, Desktop, Webaccelerator, Moon, Books, Blogs, Translate, News, Picasa, Froogle, Analytics, Wireless, SMS, NASA... GBuy....Goes on...Seems a bit evil to me heheh
I like the G alot, but IMHO concentrate forces for the search looks better. They waste some resources and money instead of make SERPs more relevant and kick spam sites.
I doubt this is being pursued so they can cut transactions costs for credit card processing. They likely already have a very favorable deal with visa, mastercard, and all other credit card companies. In fact, anyone who processes millions each day would.
It may given them more transaction power, wherein they can negotiate even better rates but even that is somewhat of a stretch. My guess is that they want to integrate this with froogle and google print among other things to actually sell goods rather than services, adding a stable system to generate revenue.
It would be the perfect solution for me.
I live in an "exchange control" country.
I can not have an account in US dollars.
G won't let me withdraw my AdSense earnings to my US account because I do not have a US tax number (I don't pay US taxes!)
So the end result is they mail my cheque to me every month - still haven't received this month's - and then I have to get someone to take it back to the US for me and mail it to my bank.
I then have to pay my AdWords bill with my US$ account credit card. It's just all so silly.
If they allow me to receive AS revenue and pay AW from this GBuy account and then draw down the balance to my US account it would be heaven. Just have a feeling that it won't work out. Had to go through hoops to get a PP account but now I handle $1000s every month through them with no problems.
Maybe this will light a fire under PayPal so they will start verifying international addresses and maybe catch up on the Market with Verified by Visa and Securecode by Mastercard.
If GBuy offers either one of these with their service I am SOLD!
It's called "vertical integration"...
Imagine, if you will, that a high percentage of adwords advertisers paid their accounts with GBuy. That would be significant enhancement to an existing revenue stream.
If this would be the case...GBuy would become more of a B2B payment platform as opposed to Paypal being an Ebay/consumer type. Seems the two would naturally attract two different target markets and not compete in a head on battle for the same piece of pie.
can anyone tell where is gbuy? www.gbuy.com not opening gives dns error.
GBuy is not currently the domain. ;)
|Google Inc. has expanded its online payment service so that users can buy and sell everything from bicycle brakes to Beanie Babies through its Web site, posing an immediate challenge to eBay Inc. |
Google added the payment service to its nascent Google Base classified listings Friday, an expected move that nonetheless sends shockwaves through the Internet industry.
Also, for reference, [webmasterworld.com...]
There was a comment about Google Payments at it's Analysts Day:
"Question: Google payments has been expanded to Google Base. How will it be expanded to other advertisers, like click-per-call? Is it a threat to PayPal? Schmidt: "There's been a lot of speculation. We are on the record saying that we are not intending to compete with PayPal... "It makes no sense to compete with what others are doing well... " EBay and PayPal are very good partners to us. Google's payments approach is a tactic to solve an important problem - to have an ad turn into a purchase. The quicker we can automate that - including payment, fulfilment, etc - the more sales there'll be."
Gbuy will comfortably surpass paypal. Google is second name for web search. Paypal is still unknown to the world even though it has 100 million accounts.