Google Checkout for Online Credit Card Processing

So you want to do business online. You might be considering using Google Checkout to process credit card payments from your online customers. Some predict Google Checkout will supplant Paypal within the next decade or so, a move that would likely involve Google purchasing eBay, since Paypal has fortified themselves inside the eBay infrastructure as a monopoly payment processor.

Introducing Paypal Here, a new mobile payment processing option.

How does Google Checkout work?

Google is applying the same steamroller approach to the online payment processing game that they have to their other conquests, a move that feeds nicely into their Google Shopping infrastructure and the rest of their apps. If you want to test their shopping experience out, purchase something you need on Google Shopping. You will get taken to Google Checkout to pay for the transaction and you can see how it works from an end-user perspective. It’s pretty seamless as far as online checkouts go, but still requires some of the cumbersome payment forms we’re used to seeing online.

How much does it cost?

Google is the master of all things web and they’re quickly overtaking all things mobile, as well. Their fees are on the low end and are certainly fair, and since their brand name is already a global icon, their market penetration is equaled by none. Their processing is clean, safe and easy to use and it’s still early for Google in this field, so expect them to get even better as years go on.

If you plan on buying and/or selling items for or from your business on ebay in the next 24 months, then you really do need to accept Paypal payments from your customers, as well.

Who will steal the mobile payment processing market?

There are indeed a plethora of options when it comes to online credit card processing, but Google and Paypal are the biggest players by far. With Google’s overall strength and domination of the internet game, it’s easy to bet on their future success in payment processing.

If you really want to hedge your bets, accept payments from all major credit cards, Google Checkout, Paypal and all the other small processors you can find with a significant customer base. That way, you’ll never lose a client due to lack of payment options and you can attract and serve customers from a wide variety of backgrounds and income levels, the key to any business’ success.

 

Posted on Friday, May 21st, 2010