| 11:15 am on Sep 16, 2005 (gmt 0)|
I heard it's called Google Wallet... and there have been some related-sounding job posting on Google's site for open positions.
With eBay buying Skype, it looks like Google and eBay might become competitors at some point, eh? eBay sellers are pretty dependent on Google already. Google might be able to develop some kind of e-commerce platform fairly easily, then it'd be a real interesting fight. EBay's users would totally shift to a "Froogle Marketplace", expecting that Google might not nickel&dime people with stupid "gotcha" fees. If only Overstock had a more similar company culture to Google... Perhaps Amazon would be a better partner for Froogle Marketplace?
Any other interesting thoughts?
| 11:31 am on Sep 16, 2005 (gmt 0)|
|Google just might be the one big, yet nimble enough to pull it off. |
Google really needs a differentiator here, and they are pretty good at that. But all I can foresee is, "Google Wallet (Beta), currently open only to US users" and the beta running through years. If Google can open it up to the world fairly quickly, it will definitely have an edge over PayPal, which is very much US centric.
| 12:05 pm on Sep 16, 2005 (gmt 0)|
Would be nice to see some competition in the Paypal marketplace.
I like the way that PayPal are a merchant processor that you don't have to pay yearly (or worry much about) but I think their integration tools and image doesn't make them the easiest solution for use on an eCommerce site.
Will be interesting to see what Google can do - hope they allow UK payments, and hope their not stretching themselves too far in every direction with all these ventures...
| 12:10 pm on Sep 16, 2005 (gmt 0)|
Yes, more competition is needed in this area and with a name like Google, they will be instant competition.
| 12:32 pm on Sep 16, 2005 (gmt 0)|
Didn't Google say they are not going to compete with Paypal with Google wallet?
| 12:57 pm on Sep 16, 2005 (gmt 0)|
Added a link to the other thread from June:
| 1:36 pm on Sep 16, 2005 (gmt 0)|
Google should buy MoneyBookers.com, nr. 2 payment system, right after Paypal. Well establisher, very well known and widely used.
I would like to see this happen.
| 1:46 pm on Sep 16, 2005 (gmt 0)|
if google IS going to create a system like paypal, wouldn't it make more sense for them to buy paypal / ebay? sure it would cost billions, but they'd get the whole of the market in low value payments etc, not just part of it .......... if they do compete, neither will win, they'll just share the prize .....
personally i don't think they'll try to compete - i guess they're creating something different
| 1:47 pm on Sep 16, 2005 (gmt 0)|
Google doesn't need to get into this merchant/processing business, but they surely like to explore the possibilities. PayPal is a cash cow for ebay and they've integrated it nicely into their ebay platform.
Outside of that, PayPal already has been through the trenches with the credit card companies and Google hasn't, so Google is going to be in a chase position for some time. I think trying to challenge PayPal is a poor business decison and will eventually cost Google in terms of focus and wasted resources.
Because PayPal is in the money transfer arena, there's plenty of regulatory aparatus already in place to keep them reasonably priced and under some control. A class action suit was recently settled against PayPal so there's already a history of being regulated.
Google can go ahead and delve into whatever they like. I'm perfectly happy to watch their services and stock price decline, to the benefit of consumers, mostly.
| 2:06 pm on Sep 16, 2005 (gmt 0)|
They did register GoogleWallet.com a couple days before the story broke back in June. Of course, others have snapped up the other TLDs of the name, lol.
With so many AdSense publishers requesting payment by PayPal, if they funnel some AdSense $ through their own payment service, it could get many people on board with using it... especially if there was an incentive for publishers to use it.
| 5:58 pm on Sep 16, 2005 (gmt 0)|
Information = Money
Organizing the world's information = Organizing the world's money
| 7:24 pm on Sep 16, 2005 (gmt 0)|
Google did say that they weren't going to compete with eBay... But they're just saying that. They also said they'd never be a portal.. and look at some of the stuff they're doing. Google is doing a portal and more.
So when they say they're not going to compete with eBay.. They're really saying that they're going to go beyond what eBay is doing.. :)
| 7:48 pm on Sep 16, 2005 (gmt 0)|
Well, if google doesn't FDIC insure my deposits and act according to state & federal laws regarding deposits they won't offer anything better than paypal and nothing i would use.
| 10:11 pm on Sep 16, 2005 (gmt 0)|
|Google doesn't need to get into this merchant/processing business, but they surely like to explore the possibilities. PayPal is a cash cow for ebay and they've integrated it nicely into their ebay platform. |
It makes perfect sense to me as Google accepts payments via AdWords and makes payments via AdSense that they can cut out the middlemen in the transaction processing and bump their earnings overnight.
I'm sure someone did a study on this and I'm sure the extra cash wasn't trivial, probably 7 figures saved just doing it themselves and they end up with a new marketable service to boot.
| 10:53 pm on Sep 16, 2005 (gmt 0)|
Some interesting things are ahead... stay tuned. ;)
| 11:05 pm on Sep 16, 2005 (gmt 0)|
I would think that with the few billions in sale in new shares I don't think Google would be sitting on the cash for nothing.
If Google can offer a system like Paypal, with lower rates and also they could probably break into the foreign markets as well compared to PayPal not being supported by all the countries.
I bet they would do something with Froogle, maybe not an auction site but something where people could sell things easier and no hidden costs as someone else stated in the forums.
| 11:15 pm on Sep 16, 2005 (gmt 0)|
|they could probably break into the foreign markets as well compared to PayPal not being supported by all the countries. |
This sounds easier than it is, it's a complete nightmare and the amount of palms you must grease in some countries is staggering.
Heck, I worked in telephony for about 5 years and getting your products in many countries is harder than gene-splicing. It's why the international standards for many things like modems and fax are so far behind the times in lots of places as it's just not worth the effort.
| 11:16 pm on Sep 16, 2005 (gmt 0)|
I hope they do offer merchant services.
Perhaps they could use the same technology in their agressive spam filters to reduce spam, and do that in merchant services as well to detect fraud.
Also with a name like Google, end consumers will trust their credit card data being secure more then with paypal I would think.
| 12:03 pm on Sep 17, 2005 (gmt 0)|
| 2:15 am on Sep 18, 2005 (gmt 0)|
|Also with a name like Google, end consumers will trust their credit card data being secure more then with paypal I would think. |
Where does this sense of trust come from?
Paypal hasn't lost it's credit card data, google on the other hand is a black box of billing disasters if i've ever seen one.
Neither is to be trusted, but to make statements like that is generally scary.
| 4:00 am on Sep 18, 2005 (gmt 0)|
All Google has to do is shave half a point off credit card deposit fees and allow free google-to-google transactions and they would practically bury PayPal.
PayPal's biggest future security however is eBay, and because of that they can never die, too much of a head start. Without competition they can get away with anything. If they raise the credit card fee half a point, where else would people on ebay go right now? Nowhere.
| 8:29 am on Sep 18, 2005 (gmt 0)|
|Where does this sense of trust come from? |
The name to a large extent (IMHO). PayPal just sounds too casual and I'm sure many consumers instinctively don't want to transact through a service who's name implies friendship and informality rather than serious business.
Granted, it may be far less of a problem today as eBay and therefore to some extent PayPal have become household names but it certainly used to be the case.
Now, i'm not saying "Buy now using your Google Wallet" is the best formal business presentation you could ask for but Google have to some extent achived through other methods what less heard of payment processors achieve through naming - such as "SecurePay" etc. It's an emotional thing at the end of the day, we're an irrational bunch.
/on a side note, i'd have loved to have been a fly on the wall in the meeting where some not-so-clued up external branding consultant proposed "GoogleCash" as the name of their new payment service... :)
| 9:47 pm on Sep 18, 2005 (gmt 0)|
Google competing with Paypal in the eBay arena is wishful thinking. Google has stated already they would not do this. If eBay wanted alternative forms of payment, eBay would have integrated payment gateways like AuthorizeNet, LinkPoint, or VeriSign in to their checkout system. Paypal is a cashcow and eBay is not giving that up.
I can see Google initially developing a payment system for internal use like AdSense income paying for AdWords expense. Or signing up audio/video/image publishers and brokering sales of downloadable content for a fee.
Trying to attach a payment system to Froogle means Google has a lot of work ahead of them. They need a flexible shipping calculator to handle the varied products on Froogle. Froogle's Advanced Upload Instructions [google.com] does not even provide Shipped From Zip Code field let alone unit weights. I don't see a Google payment system for Froogle any time soon.
| 9:02 am on Sep 19, 2005 (gmt 0)|
Google's mission is to organize the world's information and make it universally accessible and useful.
Would a payment processor fit in with googles mission?
maybe their making an accounting package
| 4:18 pm on Sep 19, 2005 (gmt 0)|
I'm in line for this. I'm on records as avoiding anything that is beta. But, in this case, I would like very much to begin this on an Adsense publisher level, and go from there. If it works out, I would gladly switch my merchant account over as well.
If they offer it to Adsense publishers for the beta, I will be there. That paypal debit card and account can be a nightmare for world travelers. You get caught up in their red tape flagging international access, due to extensive web fruad.
I think Google is capable of seeing that Adsense publishers, many of us, are now foot loose and fancy free, thanks in part to Adsense, and we need to monitor and access our Adsense accounts, worldwide, and access and spend our money, worldwide.
That is something Paypal has had trouble with since inception. I still have no response from them on the matter of accessing my paypal account from Canada without the risk of being locked out. That has happened to many business owners in the past, due to setting off their red flags for international fraud.
They responded, but indicated I could use the Mastercard debit card abroad, and said nothing about me accessing my account online, from other countries. I reposed the question, and received nothing. I did get a query asking me for feedback on the support response, however.
... only 18 more days until 'retirement', Adsense style. The countdown is underway.
| 4:26 pm on Sep 19, 2005 (gmt 0)|
Jane, I too have had a lot of problems with being a bit of a traveller and needing fully functioning PayPal accounts in more than one country. They seem pretty restrictive about living in one country and allowing Country B bank accounts or credit cards to be associated with the account.
Bit of a mess I feel.
| 5:43 pm on Sep 19, 2005 (gmt 0)|
It's hard to see how Google comes out ahead without some added value that we're not seeing yet. Another payment solution is pretty ho-hum.
Here are my guesses:
Isn't ebay really just a listing service for commerce? Froogle is similar but it's free. Can they build Google marketplace, i.e. a "Buy It Now" for Froogle if not the web? Would these merchants get a higher ranking or a button/link in the results for participating? Is that worth a premium? Would Google have to run the store to ensure payment?
What is the value of data mining payments? Would the payment alternative tie into ads? Would the payee see ads for other related products or services at or after checkout or with a billing statement? Could Google charge less in fees to merchants by making it up with an ad component that surpasses the reduced fees to merchants and/or customers?
| 6:50 pm on Sep 19, 2005 (gmt 0)|
|Didn't Google say they are not going to compete with Paypal with Google wallet? |
Google doesn't really compete if they provide something Paypal does not offer, such as micropayments.
| 11:49 pm on Sep 19, 2005 (gmt 0)|
Hmmmm? PayPal doesn't do micropayments?
Where do micropayments begin in terms of $? Is $2 a micropayment? or does it have to be $0.02?
| This 35 message thread spans 2 pages: 35 (  2 ) > > |