Will Google Wallet Eventually Give Paypal A Run For Its Money?

by Willie Crawford

Posted: 11 years ago 22 replies

INTERNET MARKETING

I use Google Checkout for several items that I sell, and for invoicing
certain purchases. It is in many ways easier than Paypal.

I recently noticed an announcement that Google Checkout will not
be accepted after November of this year, but they mentioned several
other Google services that served similar purposes.

As Google continues to take over the world

It looks like Wallet will gradually encroach on Paypal's territory,
although it looks like now it will be restricted to U.S. users 18
and over... A smart, virtual wallet for in-store and online shopping ? Google Wallet

It will let you make purchases online and offline with just the
tap of a button on certain smartphones. It also lets you easily
send money to other Gmail users... I wonder if they are putting
the squeeze on other email providers at the same time

Your thoughts?

Thanks,
Willie

#eventually #give #google #money #paypal #run #wallet

Victor Edson 11 years ago

Paypal ain't broke, but thankfully Google is trying to fix it for a second time.

If they failed to take over Paypal the first time, I don't really see it happening the second time. I see it being the G+ of social media or the Google checkout of payment processing.

Sure, some people will use it, but they'll never really take over the market share like they're dreaming about.
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mrjosco 11 years ago

I don't know if Paypal should be shakin' in their boots, but Google might be able to get a big enough market segment to start giving us real choices - and choice is always good!
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Marc Rodill 11 years ago

I don't see any wild differentiation here. You can already send money to other Paypal users for free, and I'm sure Paypal will have the same option with smartphones.

But who knows. With Paypal's resources and market share, I wouldn't put them out of the game. It's still too early to tell with any degree of certainty.

Although new affiliate manager platforms like PayGear are incorporating Google Checkout into their payment processing system. So it probably won't hurt - it'll be another option.

Marc
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Alex Blades 11 years ago

Paypal is here to stay, Google will get a little piece of the pie, but will not unseat Paypal.
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Talltom1

11 years ago

After reading the comments above, I'm a bit skeptical...Google doesn't do anything with any product or marketing strategy with the objective of being in second place.

If I'm Paypal, I've got eyes in back of my head right now....just sayin'

Tom

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Alex Blades

11 years ago

Originally Posted by Talltom1

Google may not have second place on the mind, but getting the top spot is easier said than done. I'm sure Google will be more than happy just to get a bigger piece of the market.

People are not going to stop using Paypal, just because Google wants to be number one. Paypal is trusted by hundreds of millions of people, so until that changes, I don't see anyone overtaking them.

Google tried the same thing with Facebook, and nothing has come out of it.

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Joan Altz

11 years ago

Originally Posted by Talltom1

But not everything Google does turns to gold, Tom. Personally, I don't think PayPal is sweating it. They had more to be concerned with when Amazon released Amazon Payments (or whatever it was called and is called now) and that turned into nothing really.

It's another option, but Google won't ever eclipse PayPal imo.

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eClicker 11 years ago

I really don''t like the idea of using Google for anything other than a search engine. They tend to set up shop let people get comfortable and pull the rug out from under you. Wanna guess if your payment processor is going to ban you or not every morning??.....lol
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Snow_Predator 11 years ago

I think Google could be a big player here. I notice on my site's analytics that some 90%+ of my traffic finds my website via 'secure search'. I think this means that they are logged into their google accounts while visiting my site.

If you are already logged into Google, wouldn't it be way easier to pay with Google Wallet than to have to log into Paypal?
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Istvan Horvath 11 years ago

Until they go international (i.e. not exclusively US) there is no chance to even bother about it.

And don't forget: not every G. project becomes successful! Remember the most recent: Reader.

(p.s. here is a list of G projects went dead: Google Reader joins graveyard of dead Google products - Slate Magazine)
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Alex Blades 11 years ago

Until they go international (i.e. not exclusively US) there is no chance to even bother about it.

That is the only way they can compete, if they go to countries where Paypal gives it users a hard time, and even than I don't think Google would want to take such a big risk.

I think they are just trying to get a bigger piece of the market to make some money, don't think trying to overtake Paypal was ever in the conversion
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marquinho

11 years ago

Goole Checkout (and now Google Wallet) has been around for a long time - PayPal has still taken the leald. What PayPal really has going is that they make it really easy to send to an e-mail - Google Wallet still makes that somewhat difficult.

At the end of the day, what PayPal has going for itself is that it's focused - i.e. it's part of eBay, so their #1 priority is eCommerce.

Google has a million things going on, and although they do a pretty good job at a lot of things, they do lack focus.

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Victor Edson

11 years ago

Very true, but the same can be said about Google's customer service.

Originally Posted by Portlandrocks

Good grief, I sure do hope so.

Don't get me wrong, Paypal is a great service - but have you EVER tried to work with their customer service?

Impossible.

I just want SOMEONE out there to kick the monopoloy out from underneath Paypal and give us options. Not because I actually want to use those options, I just want to be able to pick up the phone and deal with a paypal that has something to lose if they don't treat me right.

Thanks

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tpw

11 years ago

I have used it on my smart phone, but I don't see too many sellers using it outside the Google App Store.

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kolled

11 years ago

Originally Posted by Willie Crawford

As Google continues to take over the world

It looks like Wallet will gradually encroach on Paypal's territory,
although it looks like now it will be restricted to U.S. users 18
and over.
It will let you make purchases online and offline with just the
tap of a button on certain smartphones. It also lets you easily
send money to other Gmail users.
Thanks,
Willie

Originally Posted by Istvan Horvath

Until they go international (i.e. not exclusively US) there is no chance to even bother about it.

If they remain in the US, I don't see this being a threat to Paypal.

The international market is where they can really rock the boat for Paypal. In Africa, any project that uses mobile payments has a VERY high chance of succeeding. Google is already trying to get market share in the public transport sector in Kenya by partnering with a local bank. Although I don't see this particular project getting anywhere (because they're issuing cards instead of using mobile payments), they're likely to find what works eventually.

In my view, they are collecting data by trying a couple of things. I can tell you beyond a shadow of a doubt that mobile wallet is the future, and they may succeed by being the first to hop onto the trend internationally.

In Kenya, Google is giving businesses a platform to build their own websites, complete with hosting for FREE. Their strategy is probably to get more businesses online so they can get something to test their ideas with. If they get to try mobile wallet payments on top of what they are already offering, don't you think they can succeed quite quickly?

If am not mistaken, the big G is testing different things in different places across the world. It is only a matter of time before they connect the dots and probably create a service that Paypal can't offer. If I were Paypal, I'd watch my back and get busy working on the future!

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Fraggler

11 years ago

Originally Posted by kolled

It is only a matter of time before they connect the dots and probably create a service that Paypal can't offer.

Paypal lets buyers purchase products online simply, quickly, and safely; they let sellers offer online payments simply, quickly, safely and cheaply. Paypal is also third party developer friendly.

Where do you think they're lacking?

PayPal is a proven finance company while Google is an advertising company who loves to profile its users. Who would you trust your money with?

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kolled

11 years ago

Originally Posted by Fraggler

Paypal lets buyers purchase products online simply, quickly, and safely; they let sellers offer online payments simply, quickly, safely and cheaply. Paypal is also third party developer friendly.

Where do you think they're lacking?

PayPal is a proven finance company while Google is an advertising company who loves to profile its users. Who would you trust your money with?

Although Paypal is the preferred payment services provider right now, their presence in emerging markets is almost non existent.

On the other hand, Google is well known and is also on the ground trying new stuff. By the time Paypal decides to start spreading their tentacles in other markets, it may be too late for them. (This is just speculation by the way, I have no idea what they are up to or what their game plan is).

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SarahsWebsites 11 years ago

I deal with PayPal here in Australia on a regular basis and I have no problem with customer relations. Not that I have a choice, but if I did, I would stay with PayPal over Google any day. Master Google makes me nervous, I do research, I have to stop for capcha, one day a site is searchable, the next day it is not. Their whole service makes me anxious, I don't think I could trust them, I no longer add Adwords to my sites, always wondering when they would cut your service, no rights. Top Marketers cut from YouTube.
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- manidip 11 years ago
  
  Paypal is still my favorite provided they behave weird sometime
  and limits accounts (loss of heard earned dollars).
  
  But the ease of use makes it so special.
  
  However, Google is smart enough to take on anybody.
  Remember the fate of Altavista.
  
  Thanks
  Manidip
  
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Joshua P 11 years ago

They support very few countries so its a long long time if at all they make it.
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Will Google Wallet Eventually Give Paypal A Run For Its Money?

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