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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.


Posted by Becky at June 29, 2006 1:53 PM Posted to Accounting | Technology