Google to start new payment system

[jestep]

Online search-engine leader Google Inc. is preparing to introduce an electronic payment system later this year in a move that would pose a financial threat to one of its biggest advertisers, Internet auctioneer eBay Inc.

http://www.msnbc.msn.com/id/8264385/

[brian.mark]

I wonder if they'll be using AdWords to promote it. LOL.

Most certainly seems interesting, although I'll stick with my personal merchant account.

Brian.

[jestep]

Looking at it from my industry's point of view, I think that paypal needs some good 3rd party competition. But, I personally would never like to see google start offering real merchant accounts. I'm not saying that competition isn't good for business, but we don't need more Walmarts around, ever.....

[MichelH]

I don't think they will start offering merchant accounts. I think they will use the good features of Paypal combined with the good features of 3PP and come with an exceptional low rate to gain many new merchants within a short timeframe.

Hope they have a good Risk Department, lol.

Let's be honest: Who didn't see this one coming?

I wonder if they meet the new PCI requirements...

[jestep]

Let's be honest: Who didn't see this one coming?

I agree that it was just a matter of time before google jumped into this one. It think that google will put together an excellent system. The only thing that I don't see compatible with google is the support that this is going to require. Google likes to make things completely automated. I think that google will most likely buy out a company that is already doing it and then re-mold the company to google's liking. It seems like they have done that with several more complicated systems that they now own. Picassa, Blogger, etc...