There are big differences between the two however and Google Checkout is limited in the number of currencies it supports and as a pure online system it only accepts payments in the UK and USA. Plus Google Checkout cannot be used to transfer funds.
Paypal on the other hand operates in multiple countries and currencies and allows easy transfer of funds through their system. Question has to be asked then if having a Google checkout account is really a serious competitor to Paypal or not.
If you are an online merchant the answer is probably ‘no’ at the moment, but what it does do for you, if you only have a Paypal account, is provide you with an alternative payment option where Google Checkout is available. From a sales perspective it is always a good idea to provide your customers with more than one option for making a payment. There may be people out there that simply hate Paypal and would much prefer the choice of being able to use Google checkout.
Both companies have a good online reputation and are trusted by potential customers, which is another important aspect of completing an online sale, but many people do like to be able to make a choice and that’s what a merchant google checkout option provides.
Another Google initiative is the Google Mobile Wallet, this is backed by Citibank one of the large online banking groups, this service provides an option for high street shoppers to use a virtual wallet instead of a real wallet. Stores that provide the facility allow shoppers to make payments using their mobile phones. It probably won’t be long before Chase Bank and some of the other online banks start looking at similar collaborations.
To find out more about a Google Checkout Account you can use this link.