posted on March 1, 2006 03:31:23 PM
I heard on the radio today, Google is gearing up slowly but surely to compete with PayPal and it will be a free service. Has anyone else heard about it?
posted on March 1, 2006 03:45:18 PM
There have ben rumors all over the place about it, even on Wall Street. Keep an eye on the building in Phoenix. When the lights come on inside and the sprinklers on the front lawn come on, there will follow an announcement that Paypal won't want to hear.
If Murphy's law is correct, everything East of the San Andreas Fault will slide into the Atlantic
posted on March 1, 2006 04:59:15 PM
I think there is enough business for both Paypal and Google,some of you may not like Paypal practice,but the problem is not Paypal,it is the business we are in-
person to person selling to each other,without knowing much of who we are.fleamarket selling new,used,worn,old,fakes,repro or worse no delivery.
Poor packaging or no packaging,late shipping or no shipping etc etc.
Google will have the same problems Paypal faces and will have to do the same as Paypal is doing now to protect itself and protect the consumer.
Buying from an Ebay seller is not exactly like walking into Sear or calling toll free Neiman Marcus catalog.
/ lets all stop whining !! /
posted on March 1, 2006 06:06:05 PM
Google's payment model is not designed to provide customer protection (which would come at a cost). As the PayPal model has shown it's too biased towards buyers if they use credit card funding, so expect it to be a true electronic money transfer method. You will need to be verified before you can send or receive funds, and not like with PayPal where it only really happens after a problem occurs. Should significantly reduce fees and compliance costs on Google's end. Expect Google to drip feed more details over coming months.
posted on March 1, 2006 06:15:59 PM
agitprop,
no being a good USA citizen/resident,you keep comparing Paypal with bank to bank transfer ,you dont seem to get it-
the whole idea of using Paypal is thet US consumers are cash poor and credit rich,READ MY LIPS,we aint got the cash to afford buying zillions of tasteless stuff on Ebay,thats why we prefer to use plastic.
/ lets all stop whining !! /
posted on March 2, 2006 01:07:43 PM
Except hawawahhawwa,
agitprop has it right. PayPal is one of the most unsafe ways to accept money.
Davidsmom.. Don't count on it being free. PayPal started that way and stuck it in our rear ends. You can bet the google has learned from the PayPal mistakes and will start it off right. Send money for a reasonable fee.
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Many misleading tricks in 2006. The new Demomoron slogan.
I don't really understand your rant, but if you don't have the cash to buy tasteless stuff on eBay, why would you use plastic to buy tasteless stuff on eBay. Why buy it at all?
Cheryl
"Our lives begin to end the day we become silent about things that matter." - Martin Luther King, Jr.
posted on March 3, 2006 05:47:42 AM
I am speaking not for me,but for consumers in general,how many consumers in this country carry much cash and pay cash for their merchandise ??
How many people pay their credit card debt in full every month,how many of you know someone who always carry a balance?
I know someone who has been making minimum payment on his credit cards for 40 years,he boasted his goal is to die with a big ZERO engraved on his tombstone,he is getting his wish now,he has lost everything he has (when he was ill and cant work,he fell behind in his apt rent and his landlord locked up his apt and all the content inside).
Now he is in a nursing home,his ss check is not enough to cover the cost ,they take his checks and he gets nothing,not even change to buy a candy bar from the vending machine.
(For some of you who dont care much for accounting-here is what the ZERO means-
assets= liability + equity/
assets=0
liability = 0
equity = 0)
If Google wants to get into the act,it has to configurate credit card transactions,if it is just ACH or wiretransfer,there aint enough money there to meet payroll,may be buy its workers a free cup of coffee??and dont forget GOOGLE is a publicly traded company ,it has to report its earnings!!
I can see Agitprop expecting everyone to transfer cash from bank account to bank account as she is outside USA,but for most of you who have been selling on Ebay as long as I have,you should know better.
BTW,USPS has a system where it will do bank to bank transfer once the goods is delivered,how many of you are using that system??This system has been around for a few years now,how many of you know that and how many of you use it??
/ lets all stop whining !! /
posted on March 3, 2006 05:57:51 AM
Paypal makes good money on credit card transactions,it charges 2.2-2.9% discount fee plus a 35 cents transaction fee.
I dont expect any service to be FREE,it may be free to entice us to try its service,but how can it be free forever?
How do they pay their bills ??
Unless it is a front for some shady operation!!
/ lets all stop whining !! /
[ edited by hwahwa on Mar 3, 2006 05:58 AM ]
posted on March 3, 2006 06:36:10 AM
::I don't really understand your rant...:::
And this surprises you because?
~~~ • ~~~ • ~~~ • ~~~ • ~~~
Never ask what sort if computer a guy drives. If he's a Mac user, he'll tell you. If he's not, why embarrass him? - Tom Clancy
posted on March 3, 2006 07:10:14 AM
As I've said before, so much of this stuff is vapor. As time goes on, that becomes increasingly obvious.
IMHO the wise thing to do is not invest in Google, not pin your hopes on Google and especially don't build your dreams on a supposedly high-minded company that sold out to the Chinese government.
fLufF
--
[ edited by fluffythewondercat on Mar 3, 2006 07:11 AM ]
posted on March 3, 2006 07:53:39 AM
A lot of daytraders trading GOOG ,buying and selling 100 shares of GOOG ,buy in morning and sell in afternoon.
They used to trade Ebay or YHOO or AMZN,now it is GOOG.
i guess it is like online gambling.
/ lets all stop whining !! /
