How to Make Money With Google Checkout
Today Google released their much anticipated PayPal competitor, Google Checkout.
According to the NY Times:
Google is charging merchants 20 cents plus 2 percent of the purchase price to process card transactions, less than most businesses pay for credit card processing. Banking industry executives say that credit card processors typically pay MasterCard and Visa a fee of 30 cents and 1.95 percent for every purchase, so Google will be subsidizing many transactions.
What is more, for every $1 a company spends on search advertising, Google will waive the fees on $10 worth of purchases. Factoring in the 2 percent fee, that represents a rebate of at least 20 percent of advertising spending.
So to make money, all I need to do is to find a 78 cent product that I can sell ten of for a $1, off $1 of advertising. Every time I sell 10 of them, I’ll make $2.20!
See, easy money!
:)
Clair on June 29th, 2006 9:54 pm
Sounds like an opportunity indeed! I assume you’d be writing about it when you find that 78 cent product? ;)
Oluniyi David Ajao on June 30th, 2006 12:43 am
Google Checkout enters. Make money from it….
Google has launched its online payment processing service, using the name “Google Checkout“. The name has completely swerves speculations that it would be called Gbuy, GPay, etc and is quite similar to 2Checkout.
Unlike other Google service…
Vladimir Prudnikov WebLog on July 2nd, 2006 3:54 am
Thought of how to make money with Google Checkout…
In June 29 Google was released their early named GBuy. Afrer release this project have name Google Checkout. From first days after release some people have ideas to make money with Google Chekout. As sample Dane Carlson in her blog……
Erdbeere on July 23rd, 2006 12:43 pm
I checked out “Google-checkout�.
The overall process seems to be very easy but exactly that makes this solution very vulnerable. During checkout there was no security question to make sure that I’m indeed the owner of the Google account or the associated Credit Cards in that account. Of course I used my username and password but because there are so many Google sites, using the same username and password, it is very easy to loose your login information on a hijacking page as you might not check the url for Ad-Words or Gmail every time you log on as those services never had the possibility to shop with your Credit Card.
Now because you have one account and login information for all it is quite possible that hackers will try to get your login information from any Google service out there! Even worth is the fact that the hacker can change the password without any problem. The owner of the account might not even get any information about the password change as the e-mail is sent to the according and hijacked Gmail account.
Because of this HUGE security risk I would not recommend using Google checkout!
Please checkout the http://www.thebilliondollarpatent.com as s-registration solution that Google should have implemented in their service to make it solid and secure. This solution is requiring a third credential called TAN to make sure that ONLY the owner of that account is able to shop online even in case the account is hijacked.
I hope that everybody is aware of the security issue with Google checkout and will inform Google of a better solution!
Thanks and be safe;-)))!!
Ken Wee on July 31st, 2006 4:27 am
Lol Nice little trick. Have to check out checkout to see how well your theory works.
Hal on February 11th, 2007 12:54 am
Checkout has been having lots of problems lately…they’re holding back payments for merchants nowadays. So many people are suffering that we put together a little cartoon about it and posted it at http://www.zpwiki.com/evil.php. “Check it out” :).
Hal on February 11th, 2007 12:55 am
Checkout has been having lots of problems lately…they’re holding back payments for merchants nowadays. So many people are suffering that we put together a little cartoon about it and posted it at http://www.zpwiki.com/evil.php . “Check it out�
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