Google checkout overtakes PayPal?

December 27, 2007

In first two weeks of December it appears that Google checkout has over taken PayPal, reports Hitwise. Interestingly though the abandonment rate of GC is higher than it is on PayPal, which having used PayPal, takes some doing. The advent of Google checkout has to be a good thing despite it’s flaw. The previous hegemony of PayPal represents what can go wrong when one company dominates a market; buyer fraud, seller fraud, inflated fees, freezing accounts, poor customer service etc etc. Of course any online payments system is susceptible to problems, but until GC, PayPal has no real incentive to rectify them. Clearly from the amount of users abandoning GC for another payment method, they hav n’t perfected the method either. Here’s hoping that the rivalry can produce a better experience for the humble web user.

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