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Google offering payment option on GoogleBase

GBuy or Gwallet (or whatever) is no longer speculation.

     
6:28 pm on Feb 27, 2006 (gmt 0)

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Google has added a feature to Google Base that allows merchants to handle payments through a user's Google account. The feature effectively turns Google into an e-commerce platform for retail operators.

[vnunet.com...]

[edited by: engine at 3:06 pm (utc) on Feb. 28, 2006]
[edit reason] added link and story [/edit]

3:28 pm on Feb 28, 2006 (gmt 0)

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Wow - huge news and no discussion? Or is everyone scrambling to set themselves up?
3:32 pm on Feb 28, 2006 (gmt 0)

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When is GBuy coming out?
4:01 pm on Feb 28, 2006 (gmt 0)

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Wow - huge news and no discussion?

Uncertain market, off the beaten track for a search engine.

Look at the Stock price....

4:26 pm on Feb 28, 2006 (gmt 0)

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goog not doing good right now, apparently search has reached it's peak. As far as other growth markets...I doubt G can dominate as easy
4:29 pm on Feb 28, 2006 (gmt 0)

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Your CFO putting his foot in his mouth doesn't tend to help matters much either...
4:35 pm on Feb 28, 2006 (gmt 0)

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Yes it is big news. It will be tough for them to compete with Payal though. Google auctions anyone?
4:35 pm on Feb 28, 2006 (gmt 0)

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>> Your CFO putting his foot in his mouth doesn't tend to help matters much either...

I think it's a matter of time, meaning that soon or later investors will find out the truth. Probably they figured out to say it little by little instead of letting people know the they announce earnings. This way they lose 10% now, 5% later and so on, and not 50% in one day.

"NEW YORK (CNNMoney.com) Google can't win. The search engine is often criticized for not giving Wall Street enough information. But when it does open up, investors often don't like what they hear."
[money.cnn.com...]

4:46 pm on Feb 28, 2006 (gmt 0)

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The problem as I see it Walkman is not so much the fact that they open up, but what they say, or the way they say it. Look at Susan Decker last month - same thing.

Anyway I didn't mean to drift the thread off topic.

The problem with this product is it's just a "me too" thing. There's no real buzz or news surrounding it, other than the fact that it's from Google. That's not enough to be news. There's nothing "new". It comes not out of innovation or clever ideas and thinking, but out of a need to expand into other markets for financial security.

I think it's a really bad move, and it's quite possible that Google are about to experience their first real flop.

5:49 pm on Feb 28, 2006 (gmt 0)

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The problem with this product is it's just a "me too" thing.

Or you could just view it as boring because it's part of a long progression. Just as Amazon kept adding more categories of things to sell, and each would make news because people still saw Amazon as a "book seller", even though they intended all along to sell pretty much everything eventually.

Eventually, Amazon got to the point where breadth of inventory was no issue and had to start getting serious about weeding out what didn't work and profiting from what did work. Google's still in the expansion phase and hasn't gotten to the weeding out phase yet :-).

6:43 pm on Feb 28, 2006 (gmt 0)

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"it's just a "me too" thing" What are you talking about? Internet payment mechanisms are a very big problem which only works adequately for full-time businesses located in the the industrialized countries selling low-risk products, which are not extremely low-cost. That is there are several groups of people who are having serious problems:
1. The small, part-time seller.
2. The seller located in undeveloped, third-world countries.
3. The seller of high risk products (dating services,...).
4. The seller selling very low cost products (micro-payments, selling access to an article for $.25).

So why don't you give us some names of some companies which offer them? Merchant accounts are too expensive or not available to a great many in these 4 groups. Paypal has serious problems with Buyer Protection and Seller Protection (for example there is no seller protection if a customer wants to send someone a gift (confirmed addreses only)), is only available in a limited number of countries and can't be used for high-risk products. Third party processors are generally quite expensive and have a nasty habit of going out of business owing their merchants a huge amount of money (often for violating Visa/MC rules).

It's not at all clear to what extent Google will help these 4 groups. What will Google do about buyer and seller fraud for example? Could someone clarify?

7:45 pm on Feb 28, 2006 (gmt 0)

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Very me too.

This stuff works because you have a network effect of buyers and sellers, which Google has in spades with its adwords people.

What Google needs to do, is go harshly to town on it's adwords customers, providing them every free service under the sun they can think of, and then selling them advertising in every single possible place in existence.

That's their strategy for success, and it's a good one, because the more places to advertise - the more advertisers will want to come on board. The more advertisers that come on board, the more people will want to sell advertising to Google.

Powerful network effect that no one can beat, not MSFT / eBay / Yahoo .. anyone.

How does Google base give people a place to advertise? It doesn't, it's for people who don't have products or a website to advertise. It just makes no sense. GBuy? How does that create new places to advertise? I mean .. really.

Google needs to switch its company motto to -

"Advertise effectively anytime anywhere"

8:54 pm on Feb 28, 2006 (gmt 0)

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Great idea to add payment options. The combination seems a bit before its time. IMHO, Froogle failed due to a poor navigation and a poor UI and this latest product could have the same fate.

(PS. Thread creep is happening here. This is about google base + payment options, not the current price of their stock.)

9:18 am on Mar 1, 2006 (gmt 0)

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Google adding e-commerce features may sound like a "me-too" thing to do right now, but it adds value to their services. Imagine if you can make purchases directly from Google search results (and ads, supposedly), or at least give businesses an easy way in with micro-payments, etc.

On the other hand, they'll have stiff competition from eBay, etc... But still... It'll be interesting to see how this develops.

5:47 pm on Mar 1, 2006 (gmt 0)

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the first company to conveniently solve internet payment, especially micro-payment for the masses will have groundbreaking success just like google adwords with online advertising.
3:23 pm on Mar 2, 2006 (gmt 0)

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Google has already been sending payments to thousands of Adsense publishers monthly for years, so they probably have a efficient payment mechanism in place. It will be useful for companies outside North America and Europe which are largely ignored by most merchant accounts and payment gateways
9:09 pm on Mar 6, 2006 (gmt 0)

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I am located in Costa Rica and these are great news! I have been long relying on Western Union for payments. Paypal is not an option down here since we cannot withdraw funds electronically to our local bank account. Let's hope Google Base will be THE payment option for us "third world" countries.
Paypal should be scared if Google Base starts offering global payments. Western Union, too, should be watching closely.
8:23 pm on Mar 30, 2006 (gmt 0)

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Not so fast,
I got an email from google base support saying that, since I am located in Costa Rica, the feature is not available yet.

It looks like Google thinks the WORLD is only the US and Western europe!

Will keep using Paypal

<snip>

[edited by: lorax at 9:34 pm (utc) on Mar. 30, 2006]
[edit reason] removed email snippet [/edit]

8:40 pm on Mar 30, 2006 (gmt 0)

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There's too much financial risk without established fraud detection methods outside of the USA, Canada, and United Kingdom to offer global processing capabilities.