Google speeds up online checkout with Checkout, not GBuy
Today we will find out that Google’s GBuy was nothing buy hype, they’re launching Google Checkout (checkout.google.com). According to CEO Eric Schmidt, the checkout process will be faster than it has ever been before. “The goal here is to make it be one nanosecond from the time the customer decides to buy to the time the transaction is complete and the product is on the way,†Schmidt said. In addition to being a speedy process, Google will also combine the service with AdWords, waiving the transaction fees for merchants that decide to purchase advertisements on the ever-popular service. By combining these two competitive advantages, Google Checkout will have a step up on the competition from the get-go. Companies such as Buy.com, Starbucks, Timberland, and Levis have decided to join Checkout in its launch today. Expect news from Paypal in coming weeks.
Video courtesy Official Google Blog
Via [PaidContent]
Read [NYTimes]
Google’s GBuy takes on PayPal
A Google PayPal competitor has been rumored for a very long time and we have good reason to believe that it will surface on June 28th as GBuy (as dubbed most recently by Forbes). Unlike Google Payments, which was integrated into Google Base, GBuy will be intended for merchants who have their own online store, but transactions will be completed through Google’s servers. Forbes quotes analyst Jordan Rohan, who says this would allow Google to “capture e-commerce transaction data, driving more precise targeting in future searches.” Rohan also believes Google will mark merchants who accept payment through GBuy as “trusted GBuy merchants” when they’re listed in Google search results.
Google’s payment system will tell Google which sites people buy from. If sites are ranked by relevance, click through rate and bid right now, imagine if Google could also account for how many people actually bought something. By taking this into account when providing results, it will save us a lot of time as shoppers and reward the merchants that have better products, a better website, better prices, or even more security.
Read [Download Squad]
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