June 29, 2006
Google's 'Checkout' Swipes at Paypal
From Bit-Tech News:
For everyone out there using Paypal as their personal money transferrer, there's a new game in town. Google has recently brought its new Checkout service online, partnered with (read: sponsored by) CitiGroup Financial.
Google Checkout uses a revenue model very similar to Paypal, but with a slightly different fee structure. Rather than paying 1.9% and $0.30 in transaction fees, a seller would pay 2% and $0.20 in transaction fees.
Though the difference seems miniscule, the change can generate considerable savings for eBayers and other small shops that do lots of small transactions, as opposed to a few big ones.