Google has announced the launch of the UK version of its Google Checkout system. The system aims to simplify the online payment process - by allowing one Google login to process payments for all online transactions participating in the service. By retaining the details of the customer's details such as address and means of payment, the overall payment process is condensed and customers do not need to enter duplicate information for each purchase.
Google Checkout is in direct competition with eBay's Pay Pal system - but Google has some way to go: According to Reuters, PayPal announced that by the end of 2006 they had 86 million users in the USA and over 47 million users worldwide. PayPal is still the number one end-to-end single payments processor with approximately 25 per cent of the US market. Google has downplayed the comparison between Checkout and PayPal - Google's UK consumer marketing chief, Obi Felton is quoted as saying Checkout is "the conclusion of the transaction cycle" - from users searching the web for products through to the actual purchase. Plus, Google Checkout is more likely to sit next to other methods of payment on retailers' websites rather than be the sole system that PayPal is for eBay.
Originally designed to simplify the selling of online adverts, Checkout offers low-cost order processing for retailers advertising through Google. Google is also keen to stress the secure nature of the system and offers to reimburse users who find themselves out of pocket as a result of fraud. In addition, with the introduction of Checkout, consumers are likely to see an influx of offers and discounts - Google is offering free processing for retailers until December 2007 plus a price break for every £10 of orders processed for free for each £1 a retailer spends in advertising via Google.
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