Google launches online payment system "Checkout"
On Thursday, search engine giant Google launched an online payment system in the U.S. that is expected to compete with PayPal, the payment service owned by the online auction site eBay.
On Thursday, the search engine giant Google launched an online payment system in the USA that is likely to compete with the payment service PayPal, which belongs to the Internet auction house eBay. "Google Checkout" is also to be launched in Europe and Asia, although the date is still unknown.
The new payment service will be closely linked to Google's Adwords advertising system. Online retailers can use a symbol in the text ads to indicate that a purchase is possible with the Google payment system. However, the service can also be used independently of Adwords.
The service is financed via online trade and customers do not incur any fees. Google receives 20 cents per transaction and two percent of the transaction amount from online retailers. In return, Google grants merchants discounts if the transaction was made via Google Adwords.
The new payment service will be closely linked to Google's Adwords advertising system. Online retailers can use a symbol in the text ads to indicate that a purchase is possible with the Google payment system. However, the service can also be used independently of Adwords.
The service is financed via online trade and customers do not incur any fees. Google receives 20 cents per transaction and two percent of the transaction amount from online retailers. In return, Google grants merchants discounts if the transaction was made via Google Adwords.
