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Technology Stocks : The *NEW* Frank Coluccio Technology Forum -- Ignore unavailable to you. Want to Upgrade?

To: Frank A. Coluccio who wrote (10323)	6/20/2005 12:53:49 PM
From: tech101	Respond to of 46821

Google Plans Online-Payment Service New Business May Diversify Revenue Stream, Compete With eBay's PayPal Arm By KEVIN J. DELANEY and MYLENE MANGALINDAN Staff Reporters of THE WALL STREET JOURNAL June 20, 2005; Page B4 Google Inc. this year plans to offer an electronic-payment service that could help the Internet-search company diversify its revenue and may put it in competition with eBay Inc.'s PayPal unit, according to people familiar with the matter. ...... Google has offered hints that it might set up an online-payment service. Its Web site says the company will eventually allow consumers to pay to view videos online. ...... This could be good news for the merchants on eBay and any payee who uses PayPal to receive money. PayPal makes most of its money by charging 3% and additional fix amount per transaction fee above that. This is reasonable if the payer pays by credit card because the credit card company would make a cut. However, PayPal uses a lot of tricks to make the payer pay money from his/her own bank account (cash) even if the payer has a credit card number on file for payment transactions, then the payee would be charged with the 3% trasaction fee just like the credit card payment even though that is a cash payment. Considering the large number of transaction, that is a lot of money. Hope Goodle can change that evil practice.