Revolutionary? Ummm... Yes! Google has officially released its payment
processing system, now dubbed Google Checkout. Google claims a faster, safer and
more convenient way to shop and sell online and my initial analysis is that it
is indeed revolutionary. For Merchants: "Google Checkout works with Google's
search advertising program, AdWords, to increase sales and minimize your
expenses throughout the online sales and marketing process."
Google Checkout Links:
Information for sellers
Information for buyers
What's so revolutionary about that?
Well, according to the site, merchants can "Process sales for free."
That's what is so revolutionary!
For every $1 you spend on AdWords, merchants can process $10 in sales for free
through Google Checkout. For example, if you spent $1,000 on AdWords last month,
this month you can process $10,000 in sales at no cost. The more you spend to
promote your business through AdWords, the more you save on transaction
processing fees with Google Checkout. If you exceed your free transaction
processing for the month, or you don't advertise with AdWords at all, you'll
only be charged 2% plus $.20 per transaction.
Fraud Protection For Merchants
Google Checkout claims to identify and filter out fraudulent transactions.
Under its Chargeback Resolution policy, Google evaluates all chargebacks
merchants receive and, whenever possible, fights them on merhcants behalf. Some
transactions are also covered by Google's Payment Guarantee policy: if you get a
chargeback on an eligible transaction and give Google all requested
documentation and information within 10 days of the request, they will reimburse
you within a week.
Who's using Google Checkout Right Now?
Levi's, Timberland, Buy.com, Zales, GNC, ***'s Sporting Goods, Ritz Camera,
Dockers, Aeropostale, Tweeter, BackCountry, BlueFly
More to come... stay tuned.