Forum Moderators: buckworks
Very curious to know what people think and if they are willing to try the new service when it becomes available.
If the link is removed (not sure if it is allowed here, I join many forums and they all have different rules. :s) please read brief summary below:
PayPal must now 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. 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.
Google said that it has acknowledged publicly on many occasions that it is working on payment products. The company also said it already processes online payments for ad services, as well as fees from consumers who use features such as Google Store and Google Earth. It declined to comment on any pending products.
Paypal used to be secure, but now, it's rampant with fraudsters and scam customers. Paypal declines automatic protection on 90% of orders on our sites. That's so they don't have to refund the merchant when things go sour.
And Paypal's exchange rate is questionnable to say the least.
I hope you're reading this Mr Jordan. As soon as Google shows up, you're busted.
I will look at GBuy and most likely add it as another payment option. It's unlikely that we will dump PayPal as a payment option, just like we didn't dump our regular credit card processor when we started offering PayPal.
GBuy will also let consumers store their credit-card information on Google.
Does it bother anybody that Google, along with all of the other information it is capable of aggregating, the possibility of adding credit card info into the mix?
I mean, don't get me wrong, i would not be at all opposed to trying their payment solution. I am just curious as to if/when it will become a major problem that one company is the aggregator of so much information. Right now, people do it willingly without thinking, but could there be any possible reprecussions of it?
GBuy will also let consumers store their credit-card information on Google.
Does it bother anybody that Google, along with all of the other information it is capable of aggregating, the possibility of adding credit card info into the mix?
No. Amazon tracks my moves like a hawk, stores my credit card number, and ship-to addresses. Why should I freak out over Google doing the same?
What's the worst they could do... run to the mall and buy a new suit while I'm not looking?
Why should I freak out over Google doing the same?
There is a difference between the type of information Amazon collects and the sheer magnitude of information that Google has capability of collecting. Any ecommerce site is going to have some ability to track what you bought, your personal info, credit card etc. It is the fact that Google has access to so much more information than just what is entered into an ecommerce site. So, allowing one company to aggregate ALL of that information makes them in an extremely powerful position. This makes me a little uneasy and that was my point.
So, allowing one company to aggregate ALL of that information makes them in an extremely powerful position.
Still not following you. Powerful position to do what?
Powerful position to do what?
They'll have data on the vast majority of online users - their search patterns, what they click on, what they buy, and their payment information. The complete cycle. If they can pull it off, it'd be huge.
