Dragonboy IT & Electronics Journey

Thursday, June 29, 2006

Google Check Out

The rumors about Google will introduce some kind of payment service has already started since late last year. This service is suppose to compete with Paypal. Is this really true ???

When it finally appears today, on Thursday 29th June 2006, no more rumours :). I am itchy to find out more information about this. Here is the result:

What is Google Checkout?
This is another method to pay "some Seller" on the web that participate with Google Checkout.

You will put your credit card information with Google. *You have to trust Google here*
From over there, when you shop and ready to pay, there will be some options to pay:
1. Normal Method i.e. User ID and Password, and of course your credit card information
2. Google Check out option *You have already saved your credit card with them*

So to me, this is really nothing new. Do you know why ? Because Paypal has already done this for many years. The only good thing for us as consumer, soon I expect there will be some competition between Paypal and Google.

Because I am sure there will be some $$ that both Google and Paypal got by allowing the seller to use their services. So with additional of Google, Paypal has to "lower" down the charging fee :-).

So if you would like to sell thru Paypal in the future, you will have benefit since now your cost will be lower due to competition.

Why Google Checkout is not the same with Paypal?
1. One obvious thing, with Paypal, you can have your money in a Paypal account and pay the seller using this money.
2. You can send money between Paypal users
3. You can put money to your Paypal account using your own bank account i.e. BOA, etc
4. You can withdraw back your money from Paypal account to your own bank account i.e. BOA, etc
5. etc, ..etc..

What is the similar features between Google Checkout and Paypal?
1. Both of them allows you to pay using credit card.
2. .... ??? Thats it, nothing else for now.

List of seller using Google Checkout: List of Sellers

More Info: Google Check Out



Anonymous Anonymous said...

Another google failed product???

Steve Balmer

2:12 PM  

Post a Comment

<< Home