GBuys Lauch to Rival Paypal
GOOGLE is to launch a competitor to eBay in its continuing bid to dominate the internet.
The search company is set to launch an online payments system – dubbed GBuy – later this month, insiders revealed today.
The system will let Google compete with eBay’s PayPal service and to launch a shopping and auction site similar to eBay itself.
This is definitely Google shooting a warning shot across eBay’s bow,” said Paul Allen of Computeractive magazine. “But it is a gamble -eBay has a massive following and they will have to offer something a bit different to make a ‘Gbuy’ succeed.”
Currently eBay has over 10 million users in the UK.However, experts say Google’s dominance as a
search engine could allow it to steal a march on eBay.
Financial analyst RBC Capital Markets claims the new payments service will launch on 28 June. It will be free initially, but will then charge a commission fee of 1.5 to two per cent, the RBC says.
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