What is Digg?59 Comments
- Thunders, on 10/12/2007, -2/+35They should call it "G Money"
- Meshyf, on 10/12/2007, -1/+15Dugg because I hate paypal.
- handeyman, on 10/12/2007, -1/+12cant wait untill this is released, maybe it will lower paypals prices
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http://TeenStandUp.com - esangaline, on 10/12/2007, -1/+12Ah man, I hate techcrunch. They always shrink their "exclusive screenshots" down to the point where I need to lean in real close to my monitor and squint to read anything.
- headzoo, on 10/12/2007, -0/+8"How can it lower PayPal's prices...?"
That's what competition does. Right now PayPal basically has a monopoly on the online transactions market, so they can charge whatever the hell they want. - alanak, on 10/12/2007, -0/+7Well, there is no standard percentage cut that merchants pay to the CC companies. 2.9% is something that small-time merchants might get. Paypal, being as huge as it is, probably gets it at < 2%. So, that extra percentage is where it makes its profit, and it could stand to go down.
But more importantly, when you pay someone with money already existing in your account, PayPal generally still takes its 2.9% just for moving some bits around in their database. That's ridiculous, and hopefully, google's system will make it go down to free or negligible.
Funny thing is, there have been many, many competitors to PayPal over the years, but they've generally failed or only succeed in niche markets (like online gambling). The market suffers from the Catch-22: No one will start using your product unless everyone's already using it. Maybe Google will finally have the name pull to bring competition to this field, and it's about time. - phidong, on 10/12/2007, -0/+6Hopefully it'll affect Paypal's service.
- Rggoalie3, on 10/12/2007, -0/+6Google's pay system can reduce the cost of Pay Pal very easily. When you introduce competition into any market, prices go down as whole.
So, currently Pay Pal charges 2.9% $0.30 USD transaction fee. Say Google is able to do a transaction fee of just 1.9% $0.20 USD. Now Pay Pal will have to lower it's prices or risk loosing business to Goolge.
In other words, this is a good thing for consumers, no matter if you plan to continue using PayPal or go with Google. - Greg-J, on 10/12/2007, -2/+8
Mirrors in case:
http://www.prntscrn.net/img.php?img=Gmoney_1.jpg
http://www.prntscrn.net/img.php?img=Gmoney_2.jpg - acruxksa, on 10/12/2007, -0/+4You gotta luv the whole "search engine" phenomenon. 6 or 7 years ago search engines were a novelty, now they command the same respect and interest as Bill Gates and Microsoft. Google can pretty much do whatever they want to and compete against whoever they want to. This new scheme may or may not fly, but one thing is for certain........e-bay/paypal are paying attention.
Personally I think competition is a good thing, so two thumbs up to google and a digg to the article.
Information the door to power/money and it would seem google has the keys. - anseljh, on 10/12/2007, -0/+4There's already a company called GMoney, although maybe Google bought the name since GMoney is changing to GroupMoney...
I remember GMoney well: their claim to fame was distributing a bunch of bikes all over Berkeley with common locks so that anybody with a GMoney key could use the bikes. Needless to say, that didn't last long. :)
http://www.dailycal.org/article.php?id=1944 - LodgeKeeper, on 10/12/2007, -0/+4can't see it being integrated into eBay as eBay own PayPal
- turnlikeawheel, on 10/12/2007, -0/+3Tanpreet:
Duh.
Here's a URL for you:
http://dictionary.reference.com/search?q=joke - Rggoalie3, on 10/12/2007, -0/+3I'm interested to see how low Google can offer this service. By paring this service with adsence and possibly keeping track of what types of items you tend to buy, I wonder if they may be able to offer this service at or near their cost. After all, what better information can you have for ads than what he/she actually buys.
- headzoo, on 10/12/2007, -1/+4Well, thank God no more 80 character max when rating a transaction. Damn that was annoying.
- fokuscompany, on 10/12/2007, -3/+5On that note, they should sponser the Army and name the different parts of the infantry G Units...
- thewhitefedora, on 10/12/2007, -1/+3Google just keeps packing it in, the question is, how long until they burst.
- lavawalker, on 10/12/2007, -0/+2right, but isn't 2.9% the standard for credit card transactions anyway?
- suprfli, on 10/12/2007, -0/+2This is great. As someone who uses PayPal for transactions but doesn't use eBay I love the rating system. The next thing I want to know is how much of a fee Google will be taking. If they take less than PayPal it's a no brainer. I'll start using Google.
--
Derek Hampton
SouthBeachCasa
http://www.southbeachcasa.com - fokuscompany, on 10/12/2007, -1/+2"What is this?!? A center for ants? How do you expect children to learn if they cant even fit inside the building?"
-Derek Zoolander
Sorry, i was just reminded of this... - nads, on 10/12/2007, -0/+1That's an excellent idea, if by targetting me by what I've already bought I get an anti-paypal merchant acc then wahey!
- AndrewJ, on 10/12/2007, -0/+1Gbuy will never be used on ebay. Under their "Safe Payments Policy", anything not specifically allowed is blocked.
- BluParadox, on 10/12/2007, -0/+1Seems like this would really one be useful for google base... I'm still hoping that they will open the service up to web developers much like paypal has.. that would be really cool
- Pizpump, on 10/12/2007, -0/+1Anything to ease PayPal's abusive stranglehold over online payments I'm 100% behind...
- fphilipe, on 10/12/2007, -0/+1It doesn't look so userfriendly as PayPal. The interface is really weak. Hope it's going to be better in final release and hoopefully it will be integrated on eBay.
- phidong, on 10/12/2007, -0/+1There is still quite a large market for money transfers sans eBay transactions as well.
- bonoes, on 10/12/2007, -1/+2I hate you google!! Die in a fire!
Signed,
Ebay, owner of Paypal. - Pizpump, on 10/12/2007, -0/+1"Right now PayPal basically has a monopoly on the online transactions market, so they can charge whatever the hell they want."
Or put your account on hold for any reason (or no reason), regardless of past history.
Or remove funds out of your account for any reason (or no reason) citing "unauthorized funds" or any other reason they like (check the TOS).
Or force you to fax in damn near every piece of identification you've ever had (or have never had) in order to prove you are who you say you are.
Or hide the company phone number so you have to jump through hoops to make a call to complain.
Or hide your customer's payment method so you cannot determine what payment he/she used.
Or...
Hurry up Google. - wormeyman, on 10/12/2007, -0/+1Good to see google can design something that works well but looks terrible.
- LaPistola, on 10/12/2007, -0/+1EBay will have to at least let you use it to pay for auctions.. and base will have to let you pay via pay pal.. I think that google will throw enough lawyers at this to make it work.
- suMMx, on 10/12/2007, -0/+1well obviously, isnt that why google is doing their own auction site as well?
- Zedtech, on 10/12/2007, -0/+1The problem I see is what if it turns into the next "Google Messenger"? The handful of us early adopters will cling to it like anything else out of the great Google's womb, but we won't have anywhere to go with it. I hope they have a plan to sway the current paypal audience. Perhaps some kind of planned benefits for switching to their service, as well as reduced fee's versus those of Paypal.
I'm all for anything against paypal, but as it's been said here before: Making the switch be like throwing away your Visa or Mastercard and running around with some no-name brand Credit Card hoping the stores you shop at will take it, and then trying to debate with them on why they should take it. - s11mac, on 10/12/2007, -0/+1They are in a good position to introduce micro payments. They are big enough to create their own market and they can generate enough volume to make it worthwhile. If they do it, then they will certainly eat Paypal's lunch and more.
- CrazyForSW, on 10/12/2007, -0/+1I wonder if it will be better than Paypal. We just might start to see some "Google - Donate" images on webpages.
Man, there's so many Google stories on digg right now, and they'res so much that they're doing. It won't be long before they take over the world. - kiwimonk, on 10/12/2007, -1/+2i really wish google would stop copying everyone and use their little minds to come up with useful things..
- Pizpump, on 10/12/2007, -0/+1"Gbuy will never be used on ebay. Under their "Safe Payments Policy", anything not specifically allowed is blocked."
It may not be integrated (into eBay), but you can be damn sure sellers will accept it... - Silby, on 10/12/2007, -0/+1about time! even though it's a lil' lame how google is taking over the internet, I do like the idea of a google-based ebay, simply because of how well it'll be integrated with my mail, google homepage, google talk, etc.
--Yes, I also hate paypal. - twistx, on 10/12/2007, -0/+1Every product Google has aquired is free. In fact, products like google earth(keyhole), picasa, and hello were not free to users before Google aquired them.
- headzoo, on 10/12/2007, -0/+1osbjmg - I'm confident lavawalker was not asking a serious question, but being sarcastic/an ass.
- gnjack, on 10/12/2007, -0/+1Yes, with any luck it will improve service and prices of paypal, via competition, but It may not catch on as it probably wont be integrated into eBay, which is very strong and well established, and google will struggle to beat it with its own equivalent, Google Base.
- lightcycler, on 10/12/2007, -0/+0All we need to do now is get eBay to remove that ridiculous claim that paying with paypal is "safer" than paying by cheque...
- suMMx, on 10/12/2007, -1/+1hopefully it takes off because paypal is *****
- dosman711, on 10/12/2007, -1/+1Definately hope it's not another Google Video...
- osbjmg, on 10/12/2007, -1/+1one word - choice. That's called economics. Please don't mod down someone with a question to which you already have the answer. The thumbs down is for off-topic, spam, flaming(?), etc. Valid questions such as how does this lower the cost of paypal is 100% legit. Everone wants to learn!
- Tanpreet, on 10/12/2007, -1/+1there is already something called G-unit (ever heard of 50 Cent). but anyways GMoney sounds pretty cool.
- Digger2001, on 10/12/2007, -0/+0Competition is good for everyone!
- mindsinker, on 10/12/2007, -5/+5Wow, it looks like every other google site...
/sarcasm - TheAttacks, on 10/12/2007, -2/+1Wasn't this on the front page like 2 times already?
- SenyorDrew, on 10/12/2007, -2/+1pretty neat ... I never got into the whole ebay thing, but if done right I guess it could be cool
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