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Google Checkout Fee Free Until 2008

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Looks like Google Checkout extended its no fees promotion from the end of this year to the end of next year in a shot across the bow of Paypal. Paypal is pretty entrenched nowadays, especially after eBay bought them out, but Google Checkout’s fees are considerably better. With Checkout, you’re talking a commission of 2.0% plus twenty cents and Paypal is at 2.9% plus thirty cents. While these might not seem like a lot, cutting costs by 1% by doing very little is something any business can appreciate.

I signed up for Google Checkout when they announced they were going fee free until the end of the year and I’ve processed payments without incident. The major difference between Checkout and Paypal is that you have to send an invoice (someone can’t just pay an email address) and you don’t carry a balance – your account balance (up to whatever you limit is) is deposited into your account at the end of the month. There is a bit of a hassle in writing up an invoice but if you’re running a business, putting together a brief invoice is part of the game.

One other tidbit, while Google Checkout does require you to put in your tax identification number, they don’t report anything according to their FAQ.

In other Google Checkout related news, they have promotions running with a bunch of vendors where you can get $20 off $50 or $10 off $30 by using Google Checkout. I made a purchase from Buy.com the other day and it was a breeze, no coupon codes or anything, you just need to use the Google Checkout button instead of the regular checkout button. The only thing that changes with the buying experience is that the purchase isn’t connected in the Buy.com history, it’ll be in your Google Checkout history instead. This is probably bad for vendors but good for consumers because now a buyer can just keep one user account active, a Google Checkout one, when they’re shopping instead of a million accounts at each site.

Hat tip to Jonathan at MyMoneyBlog for catching wind of this new promo.

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