Thursday, June 29, 2006

GOOGLE CheckOUT...........

on Thursday unveiled its much anticipated online payment processing system designed
to offer shoppers with a Google account a quick way to pay for things.

Web sites and merchants can integrate Google Checkout into their sites as an alternative payment
processing method to existing checkout and credit card processing systems, said Salar Kamangar,
vice president of product management at Google.

Consumers with a Google account can type their credit card and billing information into Google Checkout
once and then pay for purchases thereafter with practically one click on any Web site that features the
system, Kamangar said. As things now stand, he said, "If I buy five things from five different merchants
I have to fill out five different forms. This process can take three, four, five minutes" for each form.
Google Checkout is meant to change that.

Once they've purchased something through Google Checkout, consumers can track their orders through the system,
which will be live starting Thursday at

Merchants using the system will be charged a processing fee of 20 cents per transaction, plus 2.2 percent of the
relevant purchase price. Customers who pay for search-related keyword ads through Google AdWords will be able
to process, free of charge, transactions that add up to 10 times the dollar amount of their AdWords spending,
Kamangar said. Beyond that, they pay the 20 cents plus 2.2 percent. Kamangar said the regular transaction fees
are less than those charged by credit card companies, which can be about 1 percent higher.

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Satyadev Singh

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