Seeking Alpha

In what could be a win for PayPal (EBAY), Google (GOOG) is shutting down Checkout in 6 months to...

In what could be a win for PayPal (EBAY), Google (GOOG) is shutting down Checkout in 6 months to focus its online payments efforts on Wallet. Though Google will still handle payment processing for developers selling on Google properties (Play, Chrome Web Store, Offers Marketplace), 3rd-party merchants using Checkout and lacking an internal processing solution will have to find an alternative. The announcement comes a week after Google announced several new Wallet features, including new developer APIs and an option to attach money to Gmail messages.
Comments (6)
  • jpintoctr
    , contributor
    Comments (441) | Send Message
     
    Google open and close "free" services and features all the time. Therefore this is not a surprise. I hope not to many small business or professionals really on Google patchy record in the stability and long term life of its products.
    21 May 2013, 04:58 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5550) | Send Message
     
    The paypal killer will be (AAPL)'s iTunes. The iPhone 6 is rumored to have an iWallet where users can buy items at the store through iTunes instead of going to the checkout desk.

     

    Imagine how for this idea could expand.
    21 May 2013, 11:54 PM Reply Like
  • gmmpa
    , contributor
    Comments (491) | Send Message
     
    I have used Ebay since its inception in the late 90s. I use PAYPAL all the time. I was sorry to see it acquired by Ebay. It should have gone public. Electronic payments and electronic banking is much harder than it looks to implement securely. PAYPAL has more experience and an established base in E commerce. Smart phone E commerce have a ways to go before I will use it for electronic payment transactions.
    
    It is good to see Google enter the space, however, I think they they should use their cash to acquire some small cap start up companies that can help them quickly gain experience in electronic banking and electronic payment security. Companies like the European Elephant Talk Communications (ETAK). They should look to banks and consumers in Europe which are further along in smart phone eCommerce than in the USA.

     

    However it is in its early stages of development world wide. It is something that should be watched but not necessarily used. It will make cell phones truly and electronic wallet when it matures.

     

    I am long GOOG and ETAK. Do not have a position in Ebay.
    22 May 2013, 12:41 AM Reply Like
  • CassandraSees
    , contributor
    Comments (347) | Send Message
     
    Referring to Michael Bryant posting

     

    ... "The paypal killer will be (AAPL)'s iTunes. The iPhone 6 is rumored to have an iWallet where users can buy items at the store through iTunes instead of going to the checkout desk. "

     

    What would be the procedure to let the merchant know that the item was paid for and not being shop-lifted?
    22 May 2013, 10:16 AM Reply Like
  • SP5524
    , contributor
    Comments (85) | Send Message
     
    You can assume Apple hasn't forgot to consider that most obvious concern when developing this technology.
    22 May 2013, 12:47 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5550) | Send Message
     
    I think the merchants will have an account on iTunes.
    23 May 2013, 11:42 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|