Google is on its way to launch Gbuy which will be be a competitor to the service to Paypal sometime this month.
For starters I am a Paypal user as it is one of the best online today unlike the other smaller companies who eat into your earnings, but now with the buzz on Gbuy I got from Google Operating system website I am looking forward to it whole heartedly.
Though I still believe Paypal is the best online payment mode today unlike the other players. There are few things I would like Gbuy to have.
1. A better interface for user's interface for users who accept payment. It takes me lot of time to get around paypal to look what I want.
2. Lesser self cuts on payments, Paypal is the lowest but I hate losing that kind of money on accepting transactions and then again when i withdraw it using cheques as not all countries have a transfer facility for 0% losses for tranfer.
So while keeping into mind my charges for a project or transfers I have to keep the base amount and then calculate the total amount to pass on to customers, so that I get the amount I have in mind and don't lose money in the transaction, thus hurting my customers with the extra payload they have to pay me if they use paypal to transact with me.
Imagine losing 2-4% while transacting and then again around 5-10$ while withdrawing your own money.
This is the best thing I would heard though about Gbuy
GBuy will be a competitor to PayPal and will not charge merchants for its payment service during the beta phase.
I don't worry about the "Beta Phase" term as knowing Google for their services moving to public releases would be some time and I am all exited to stop losing money and give my customer's lesser pricing once and for all.
Well it being a Google service, i still expect some ad placements in it, so that they will still make money one way or the other, but who knows all is speculation and only time will tell what they come up with.