Google testing GBuy - A PayPal Killer?

Filed under: — By Aviran Mordo @ 4:18 pm

Google began recruiting online retailers last year to test a GBuy payment service, The Wall Street Journal reported on Thursday, citing unidentified sources familiar with the matter. The report said GBuy operates independently from Google Base, a sort of classifieds service for individuals and businesses launched in November.

The Wall Street Journal report also said Google is increasing the number of Google Base sellers who can use its payment-processing service “in a move that could put pressure on eBay Inc.’s online auctions and PayPal payments services to cut or even eliminate some fees.” Google charges sellers 25 cents plus 2.5 percent of the value of the transaction while eBay’s PayPal generally charges 30 cents and fees ranging from 1.9 percent to 2.9 percent per transaction, the paper noted.

Source: News.com


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