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A review of Google Checkout - cheaper, faster, safer, easier than it's competitiors
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A review of Google Checkout - cheaper, faster, safer, easier than it's competitiors: at least that's what I've found in the two months of using it, read on.
Some things take off on the Internet and go viral, seemingly without any rhyme or reason.
Others seem to take forever to catch on, but once they do, have a solid footing which to build on, an the potential for growth in enormous, such I think is the case with Google Checkout.
In the marketplace now since June 28th of 2006, this easy to use online payment processing service provided by Google simplifies the process of paying for online purchases.
Users store their credit or debit card and shipping information in their Google Account, so that they can purchase at participating stores with the click of a button. It also offers fraud protection, as well a unified page for tracking purchases and their status.
As a buyer, you just click on the Google Checkout button and you can pay via any credit or debit card. You can even use your PayPal funds!
As a seller, you sign up and are verified through a secure process much the same way as any other online e-payment processing service.
Rather than store your funds, Google Checkout is a conduit for payments.
I have to admit, I was a little resistant myself to using it, but after I tried it, here's what I've found.
- It's very easy to use.
- It's cheaper than any of it's competitors' at .20 per transaction and a very low 2% transaction fee.
- It's fast, the funds received make it to your bank in a couple of business days.
- It's safe, and has it's own feedback rating, where customers can rate the sales transaction.
While it's not as widely known as it's biggest competitior, PayPal, it is starting to take off. If you look at the article below you'll see that, as I've said, it now has an 11% market share. While at first this may seem rather paltry, consider that it's only been around for 2 & 1/2 years.
There are some other pretty strong arguments for it's expansion in the marketplace. The biggest one I can think of is that a massive amount of eBay sellers are leaving eBay due to the very unpopular changes the auction giant has made in the last 2 years. And eBay has banned the use of Google Checkout, so the data on market share would seem skewed when you consider that.
Nearly every other major selling site accepts Google Checkout at this point, and it appears that merchants are really just starting to find it.
Is it right for your business? The only way to find out, is to give it a try, but I can tell you this: I wish I had gotten started with it a couple of years ago instead of last month!
According to the Webware Radar column by
Marketing agency Rosetta released a study Thursday that found Bill Me Later and PayPal are the most popular alternative payment options on the Web, capturing 26 percent and 25 percent market share, respectively. Google Checkout increased its share by just 1 percent in 2008 commanding just 11 percent of the market.
Rosetta also found that 37 percent of the top 100 major retailers on the Web employ alternative payment options like those offered from PayPal and Bill Me Later, but just 7 percent of those retailers offer all three services.
Click here to read the rest of Mr. Reisingers' column:
About Google Checkout
Overview
Google Checkout makes online shopping quick and easy! Buy items from stores across the web, in just a few steps, without having to enter your billing and shipping information each time you shop online. Here's how it works:
- Find something you'd like to purchase from a store that accepts Google Checkout.
- Add item(s) to the store's shopping cart.
- When you're ready to complete your purchase, click the Google Checkout button. Log in to your account, or create one if you haven't already.
- Review order details and click Place your order now. You're done!
After placing your order, we'll send you a confirmation email along with a receipt.
Cost
Google Checkout is free! You're only responsible for paying for your purchases, including taxes and delivery fees (if applicable) in the currency the seller uses on their website. There are no additional costs for purchasing through Google Checkout.
A temporary $1.00 authorization may appear on your credit/debit card after signing up for an account. This will be removed from your statement after a few days, and you won't be charged the extra $1.00.
Availability
Google Checkout is available to shoppers with billing addresses in a number of locations. Buyers can also ship purchases internationally if the seller offers this option. To see if you can sign up or ship purchases to your location, check the Location: drop-down menu on the sign-up page. Remember, while you may be able to purchase products from Google, like Google Earth, you won't be able to purchase from other sellers offering Google Checkout unless your country is listed.
Don't see your location on the list? We're working to make Google Checkout available as widely as possible, and we look forward to expanding our service to more locations soon.
While Google Checkout is available outside the United States, support services are only available in English at this time.
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