Google to launch beta of Gbuy

Google is expected to launch the test-version of its online-payment service, dubbed Gbuy, sometime this week.

Internet search engine market leader Google Inc. is ready to launch the beta version of its online-payment service this week. Called Gbuy by analysts and media watchers--Google has yet to unveil the name of the service--will compete with other payment options such as Ebay's PayPal. According to reports, Google says that the service will speed up online purchasing but will not have any resemblance to PayPal. But not many are convinced.

According to Google, the Gbuy service will be targeted at AdWords advertisers and not at consumers directly. 

AdWords advertisers who use the Gbuy service during the test phase will not be charged. Google also plans to offer a rebate to individuals who use the Gbuy service to make purchases.

According to reports, Google may charge users 2 per cent per cent commission on a sale, vis-a-vis PayPal's figure of 1.9 per cent commission. There will be an additional cost of 30 cents per transaction, which is the same that PayPal also charges.

Gbuy will work as an icon placed next to the paid-search ads of marketers. Users will be able to access the marketer's site and they will have the option of paying through GBuy. If they choose Gbuy, they would be checked out thorugh a process that is integrated with Google. 

Of late, Google has been stepping out of its core search engine business. It introduced video ads and is also sending targeted messages to user who used media such as magazines and Television. Google is trying to get into targeted marketing so that it can wrest a share of advertising spends of companies.

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