GBuys Lauch to Rival Paypal

 TMC Net

GOOGLE is to launch a competitor to eBay in its continuing bid to dominate the internet.

The search company is set to launch an online payments system - dubbed GBuy - later this month, insiders revealed today.

The system will let Google compete with eBay’s PayPal service and to launch a shopping and auction site similar to eBay itself.

This is definitely Google shooting a warning shot across eBay’s bow,” said Paul Allen of Computeractive magazine. “But it is a gamble -eBay has a massive following and they will have to offer something a bit different to make a ‘Gbuy’ succeed.”
Currently eBay has over 10 million users in the UK.

However, experts say Google’s dominance as a

search engine could allow it to steal a march on eBay.

Financial analyst RBC Capital Markets claims the new payments service will launch on 28 June. It will be free initially, but will then charge a commission fee of 1.5 to two per cent, the RBC says.