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Google Checkout Arrives

Google CheckoutEveryone has been waiting for Google to release “Google Wallet” or “GBuy”, in the end we get Google Checkout. The idea of a payment system online is not new by any stretch of the imagination. What’s interesting about what Google is doing is their tie-in with advertisers.

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. (NY Times)

The standard rate for Checkout merchants will be 2% of the sale plus 20 cents – compare that to Paypal’s standard rate of 30 cents plus 2.9% of the transaction. Google is hoping that this will encourage people to buy from smaller merchants, and give them more access to information on both the buyer and seller.

[Note: Take a look at the short Google Checkout video for BUYERS or the Google Checkout video for SELLERS]

Google Checkout 1 Google Checkout 2

3 Comments

  1. too bad, google checkout currently accept sellers from the united states only.. so people from the rest of the world who wants to sell their product through google checkout will have to wait untill dont-know-when

  2. Actually, this is a big blind-spot for a lot of great companies, or even startups that have good ideas. They forget that the rest of the world would also like to use it, or they decide that the US is a big enough market and they’ll worry about internationalization later.

    My thinking is that it’s an area where startups could make major inroads on their bigger competitors. You’ve got the agility to build for international customers, and you’re starting from scratch. Why not make sure that simple things like dates, commas/periods in numbers, and such are taken care of?

    I’m about to launch a new eBay listing tool (details coming soon), and it’s being built with internationalization in mind. This first beta phase will be US, but look for availability in other countries soon thereafter.

  3. Hmmnnn… Though I [url=http://www.davidajao.com/blog/2006/06/30/google-checkout-enters-make-money-from-it/]blogged[/url] about this already, I did not notice that it was limited to the USA only. I was already regretting that I did not wait and signed-up for 2Checkout rather, some months ago.

    Google Checkout seems to be a great product, but I am not eager to sign-up. I prefer waiting to see how it all goes! 😉

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