Google is apparently set to launch GBuy this week. There has been a large amount of speculation about the entry of this new competitor to PayPal and the launch seems to be delayed which may prove that Google is finding it harder than expected to sign up their first bunch of marquis merchants.
Having myself launch Beenz, the leading Web Currency of the '90's, I fully understand their challenge, for e-payments systems are the ultimate chicken and egg business model. Until you have a critical mass of merchants you will never attain a critical mass of users.
And to get a critical mass of merchants they want to see a system tested ('cos its about getting paid!) and a critical mass of users!! Go figure that one out.
This time round Google will have to use all their goodwill and persuade their (AdWords) clients (merchants) to trust their new GBuy system and probably give it away from the getgo, plus they will have to convince them that Google users will adopt it.
This is one launch where they cannot just hang their technology out in the wind and hope it takes off. But, they have some innovative features - like linking GBuy straight into an ad so you can buy a product from the ad rather than switching to the site.
If Google do get this more challenging launch right - there's a big fat opportunity at the end of the rainbow - that's the beauty of electronic payment systems.
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