|Merchant Services, E-commerce and Credit Card Processing Information|
Google to Compete with PayPal?
PayPal is secure in its domination over the electronic payment industry, at least for now.
Following reports that Google planned to launch a new Internet payment service (nicknamed Google Wallet), Eric Schmidt, CEO of Google, denied that Google would be directly competing with PayPal. He did, however, acknowledge that Google has plans for some type of electronic payment service.
Without revealing any details, Schmidt emphasized that the Google payment service will not offer the same sort of "person to person, store-valued payments system" as PayPal provides.
The Internet commerce industry was rampant with rumours of the new Google service following an e-commerce conference hosted by securities firm Piper Jaffray. Speculation that Google Wallet would encroach on PayPal territory was reinforced by the appearance of a June 20th article in the Wall Street Journal which stated that Google was planning an online payment service to compete with PayPal.
PayPal is a unit of eBay and generates almost 25% of total eBay revenue. It is used by consumers for making a wide variety of Internet purchases. It allows purchasers to use their credit cards without divulging their credit card numbers to merchants. PayPal takes a percentage of each transaction and had revenues of $233.1 million in the first quarter of this year.
Most of Google's revenue comes from online advertising and this expansion into online payments was seen by many in the industry as yet another example of the rivalry between the two companies.
Google is a giant in Internet commerce with revenues of $3.2 billion last year. A payment service that competed directly with PayPal would be a serious blow to both PayPal and eBay.
Google maintained silence about the rumours until Schmidt's comments last Tuesday. Without elaborating, he stated that Google's payment service would be an extension of its existing advertising programs.
Copyright 2005 by Ross MacIver
This article may be redistributed freely on the Internet or in ezines as long as the resource box and hyperlinks remain intact.
Ross MacIver is the director of Best Online Content. We provide quality content for your web site and offer a full range of design and SEO services.
Something new in e-commerce: the Echo System Build
How four partners build and manage an exclusive art posters web site by emulating the way the echo works. Imagine a top-notch photographer, some demanding visitors and an e-commerce site that wants to make money. But not at any price and in any conditions, within a policy of exclusivity and selectivity. You have got three quarters of our "Echosystem Build":
Top 5 Dot Com Myths Debunked
Most people who get into business know what's involved. They have completed hours of research before getting into it. That's great! Even so, we may still have some myths that need to be debunked. Now and forever. We all may have some lingering ideas; after all many have these myths are quite tempting. However, it's important for serious business owners to quickly get them out of the way so some really forward moves can be made. In the world of the Internet businesses, the industry is rife with myths that ultimately can be as harmless as a distraction or as worse as a serious loss in capital, which could ultimately lead to business failure.
E-Commerce Is Back On The Fast Track
How much holiday shopping did you do on-line this year? If you are reading this, then chances are good that you made at least one purchase on-line. Over 54% of all Americans did it . A much higher percentage (>80%) of Internet users did it.
Online Consumers ? What Are They Complaining About?
For many businesses, e-commerce represents a tremendous method for generating revenues. To maximize the profit potential, you need to keep an eye on issues that drive your prospects nuts. The FTC maintain a list of the top 10 "dot.cons" complained about by consumers. If your site falls within one of these industries, you must make sure you address these concerns.
The Art of Being Human
This isn't the first time I have written about the benefits of inserting a human voice or presence into your online communications. And I make no excuse for writing about this again.
Saving Money On Your E-commerce Site
After building and transferring many e-commerce sites it still amazes me that owners of e-commerce businesses are still wasting money in three basic ways. For fear of stating the obvious, saving money is the same as making money $100 saved is $100 added to your profit margin. Here are three basic ways to save money on your e-commerce site and increase your profits. While they may be simple we know they are overlooked time and time again resulting in thousands of dollars in lost revenue.
Starting An E-Commerce Business
The development and expansion of the Internet has made business opportunities, once only available to the wealthy, available to nearly everyone. In the past, opening a business was a huge commitment in terms of finances and risk. Traditional business owners had to quit the their current jobs, obtain bank financing, and sign leases before they even made a penny. It's easy to see why 95% of them failed within five years. Today, business opportunities are available to anyone willing to put in the time and effort to learn about the world of e-commerce. Best of all, you can start an e-commerce business with minimal funds and very little risk. This guide will take you though the steps necessary to start your own e-commerce business.
What is SSL (the little padlock)?
Ecommerce Marketing Plan
Concept of Service
Delivering Information Products Through Paypal Automatically
Paypal is one of the wonders of the web. Never has it been easier for individuals or small business to receive payments though the web & to be able to accept payment though debit or credit cards without having to own a merchant account. You can have a paypal account setup within minutes & accept payment straight away.
Ecommerce - Boost Your Business ROI
Did you know that over 90% of all online orders are processed by credit cards and that web sites that offer customers the ability to pay with credit cards can achieve up to 300% more sales than those that do not?
Internet Merchant Accounts For Innocents Abroad
If you want to sell on the internet, your need to accept credit cards. To accept credit cards, you need a merchant account, or access to one. There're two ways of getting this: Get your own merchant account, or 'pimp' off someone else's.
Shopping Cart Abandonment ? Discover 5 Things you can do to Lower Cart Abandonment
A common frustration among merchants who sell online via a shopping cart is the percentage of people who abandon their cart and leave the site never to return. This is known as the shopping cart abandonment rate. It is not unheard of for companies to experience as high as a 99% abandonment rate. Getting the abandonment rate under control can go a long way towards increasing the income your company earns from their online venture.
7 Suggestions for an i-Mom Friendly Web Site (e-commerce news and statistics)
The Internet began as a male dominated medium, but those days are long gone and merchants are advised to make sure their websites are female friendly to faciliate the rising surge of busy i-Moms shopping online for their family and friends.
Intranet Portals ? Search and Taxonomies
Knowledge Management for beginners
The Clickbank Crash of 2003: Lessons Learned
I had a rude awakening recently. I checked the days worth of sales from one of my sites and there were none. This had never happened before and of course I was anxious to find out what was wrong.
Managing Project Risks and Issues
Inherent (or Business) Risk
The Ecommerce Business Plan
Simply put, business plans can make or break your business. Starting a Drop Ship business online is no different from starting a traditional non-online business. With the strong emphasis individuals place on writing business plans for starting up non-internet-based companies, it is equally crucial to prepare a business plan for your online business.
Excuse Me, Are You Wasting Traffic?
The largest cost and concern of an internet business is customer acquisition; traffic. Both quantity and quality of traffic directly determines the succes of an internet business. By the fundamental nature of traffic to an online business,one cannot afford to waste it.
Six Components Of A Good E-Commerce Site
Businesses, which are still sitting on sidelines and not doing business on the Internet, should think seriously about their position! If you are one of them, chances are there, that you have to pay dearly for your indecision as you might lose significant market share to your more proactive competitors in a very short period of time.
|home | site map|