Google's Gbuy expected to launch June 28
According to a researh not of a Wall Street analyst Gbuy, Google's online payment system is expected to launch June 28. The system will rival eBay.
Gbuy is expected to be free during the initial phase, but merchants may eventually be charged a 1.5 percent to 2 percent per-transaction fee. A fee of that size would be slightly less than that charged by eBay's online payment system, PayPal.
Google was not immediately available to comment.
According to the analyst "The brilliance of Google's Gbuy merchant-to-consumer payment platform lies in what Google may do with the transactional data it captures from the thousands of merchants that may ultimately offer Gbuy,".
Google is able to gather the data when users click on a merchant's Gbuy feature. Consumers are then transferred to Google's Gbuy site, where they complete the transaction.
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