Google Checkout Raising Rates?
By opinion8d on Mar 24, 2009 in Finance | comments(0)
I recently heard that Google Checkout, Google’s answer to PayPal, is raising their fees. Starting May 5, 2009, they will be the same as PayPal’s fees.
Not everyone is as familiar with Google Checkout as they are with PayPal, but those who know about Checkout probably understand that many poeple use it because they offer a less expensive alternative to PayPal’s high fees. In fact, many online sellers started using Checkout because they offered rock-bottom fees in order to compete effectively with PayPal, a service that FAR more people are familiar with — and comfortable using.
Unfortunately, as many people noted in the above linked-to thread, if Google Checkout’s fees are exactly the same as PayPal’s, there is no longer any incentive to use Checkout. More customers will be familiar with PayPal, and if they both cost exaclty the same, why bother creating confusion and hassle by offering two payment options?
Of course, if you used Google Checkout in order to rebel against PayPal’s policies, fees, and big-business attitudes, you will probably want to find a different alternative. You could, of course, continue using Google Checkout. But there are many other options, particularly if you are a high volume seller online. For instance, you could get an ecommerce merchant account with a company that processes credit card transactions for you online. You may also want to look into a check payment processing service, if you want to accept payment in that form. There are many of these services to choose from, so be sure to research every merchant account provider you are considering to make sure that you get the best deal for you and your business!