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Tuesday, June 13, 2006

GBuy vs. Paypal: Fight!

There have been rumors about Google offering their own version of Paypal floating around the web for years now, and apparently, the rumors were recently confirmed: Google is about to launch their own online payment system dubbed "GBuy". According to Forbes, the service is set for release on June 28.

Consumers using GBuy, which is set for release on June 28, will be taken off the merchant's site to complete the payment. This will enable Google (nasdaq: GOOG - news - people ) to capture e-commerce transaction data, driving more precise targeting in future searches. (source: Forbes).

Will Gbuy be the next PayPal killer? Maybe, maybe not. Personally, I think that the coming of Gbuy will be splitting the online payment market in two, bringing a new source of revenue for Google, and cutting Paypal's share in half. Whatever happens, I think that with the exponential growth of the online world, there are enough opportunities on the Internet for 2 competing players to live comfortably.



1 Comments:

  • absolutely agreed.

    If anything, there are as many possibilites for businesses as there are banking models around the world.

    Take it a step further, and you're likely to see a melting together of paypal type services with investment services, banking services, and other financial services.

    Paypal is only the start.

    Those that SHOULD be most concerned are the traditional banks. If a company like Google decided to leverage their Internet saturation and get into banking services, they'd all be in some serious trouble.

    Keven

    By Anonymous Anonymous, at 7:06 PM  

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