Google Checkout VS Paypal!Is Google Missing Something?
Written by admin on June 5th, 2008 in internet.
Paypal has ruled the world of electronic wallet for many years and till now it’s a monopoly with no real competition. There are a lot of unsatisfied customers of paypal and that was the main reason for Google to diversify itself and launch a payment processing system in the form Google checkout.EBay is the biggest marketplace on the internet and paypal (an eBay company) is the primary payment solution on eBay. Google checkout is launched without a real battle field (banned on eBay) so it’s scope is very limited and can only focus on online merchants,perhaps! could not compete with paypal.
Merchants Are Switching from Paypal?
Now merchants are switching to Google checkout or offering both payment solutions together because of two main reasons.
- Low transaction cost:
Transaction cost of Google checkout is low as compared to paypal
Checkout fees?
In excess of 10 times your monthly AdWords spend 2% + $0.20 per transaction
It’s free if your sales remain < or = 10 times monthly AdWords spent
Paypal Fees?
Transaction Fee = 2.9% + .30cents per transaction
- Chargeback Scams On Paypal
Google checkout evaluates all the chargeback and reimburses money against fraudulent chargeback attempts. Charge back investigation process of paypal is very lengthy and it may take up to 75 days..
