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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6/13/2006 1:04:01 AM
I'm getting 4.73% on my PayPal balance as a money-market account (free upgrade to my PayPal account.... can't remember when I activated it... I think I got an e-mail about it). Which is about 0.4% higher than my ING Direct account. I'm not a big eBayer, but I recently sold a PC there and I'm keeping that couple hundred bucks in PayPal as long as it gets that rate! (or until I spend that much on eBay...) So they are DEFINITELY trying to get people to keep larger sums on PayPal for longer periods of time.
6/13/2006 2:20:22 AM
I'm getting 4.73% on my PayPal balance as a money-market account
Doh, must be American only thing - nothing for Canada, as usual.
"So, I think the same thing of the music industry. They can't say that they're losing money, you know what I'm saying. They just probably don't have the same surplus that they had." -- Wu-Tang Clan founder RZA
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