Business Opportunities Weblog

December 7, 2006 by Ty Tribble | 0 Comments

According to reports, Google will be eliminating fees from its online payment, Checkout. To compete better with PayPal, Google is letting merchants use its Checkout system to process payments without taking a hit on transactions. Traditionally, merchants who use PayPal take a 2.9-percent hit on the total value of a transaction plus another 30-cents for actually processing a transaction. Over the years, many PayPal users have scoffed at the high fees that PayPal enforces on its customers. Despite this however, PayPal remained a growing and popular online payment service for users worldwide.

Google told reporters that its feeless Checkout process will begin in 2007 with no indication on whether or not this will be a permanent change. Still, representatives from Google made it clear that Checkout was never meant to be a competitor to PayPal. Instead, Benjamin Ling, who is in charge of Checkout said that the service was meant to make it easier for customers to actually make a purchase — less clicking and fewer sign-in steps.

DailyTech – Google Checkout Goes Fee-less in 2007

In Ebay & Online Auctions | 0 Comments