Google's GBuy on Target to Aim for eBay and PayPal
June 12, 2006 5:25 PM
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Stiff competition coming for the eBay/Yahoo partnership
DailyTech previously reported that Google was developing an online payment system
called "GBuy." The system is one of many systems under development from Google, to make it easier for online users to pay for items they buy through a trusted source, in this case, Google. However, news is out this week that GBuy is turning out to be much more than a PayPal competitor -- Google has plans to turn it into an eBay competitor as well.
According to several reports circulating around, Google will be launching its GBuy service later this month, presumably on the 28th. Google has not been speaking much about GBuy since the first few details of it were released to the public. Other Google services such as Calendar, Finance and Spreadsheet have been taking the lime light.
Analysts had expected that GBuy was going to launch soon primarily because earlier this year,
eBay and Yahoo announced an agreement to co-operate together
, to improve each other's traffic. Google is expected to leverage its AdSense and AdWords programs into
in a similar fashion that it has done with GMail.
Some reports and analysts suggest that judging by Google's history; it may not charge any fees to post a sale on its service. This would quickly gain Google a client base that is accustomed to Google's "free and everywhere" model. Whether or not that this mode will last for GBuy however, remains to be seen.
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RE: I welcome thee
6/12/2006 9:44:50 PM
I did well over half a million in sales in 2005 over Ebay. I spent roughly $20K in ebay and paypal fees.
As far as service, Ebay and PayPal are both horrible.
As far as fees, PayPal fees are not quite as excessive as Ebay fees. It is a one-two punch for sellers with both however.
Buyers are actually the ones who end up eating these fees, as sellers just increase their shipping fees. Look how many computers on ebay carry a $99 or more shipping fee. That $99+ shipping cost normally covers the seller's shipping costs, ebay fees, and paypal fees.
So it is the customer who is really being screwed over with Ebay and PayPal, not so much the seller.
So, if Google could really develop a service to compete with Ebay/Paypal, and charge less, it will greatly benefit not just sellers, but also buyers.
I assume there will be a fee for transfers, there just has to be with the cost of credit card transactions. But if the listing and final value fees are none, i.e., no cost for the seller, this would, overall, be less than half the cost of doing business over Ebay/Paypal. I pay a 2.6% transaction fee with PayPal, and more than 3% with Ebay. So, as you can see, if I could get rid of the "ebay" fee, I could offer my customers better prices.
Go Google Go. I'd be honored to be your first seller. And I'd love to tell Ebay and Paypal to go fvck themselves.
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