Google Checkout – shop with Google
Google Checkout is an web payment processing service provided by Google aimed at simplifying the process of paying for online purchases. Users store their debit or credit card and shipping information in their Google Account, so that they can purchase at participating stores at the click of a button. Google Checkout also offers fraud protection, as well a unified page for tracking purchases and their status.
Google Checkout is free for merchants until December 31, 2007. After that date Google charges merchants 2.0% plus $0.20 per transaction (1.5% + £0.15 for UK merchants)[2]. Also after this date, merchants who have an AdWords account will not be charged fees on monthly transactions totaling less than ten times their monthly AdWords expenditure.
Prior to launch there had been early speculation that Google was building a product to compete with PayPal. However, the scope of Google Checkout is very limited compared to the PayPal offering. Google Checkout processes payments without storing value, and cannot be used to make payments from person to person.
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