Google Checkout Buying Market Share from PayPal
Google has deep pockets, and is certainly not afraid to use its war-chest of cash to take on PayPal. Hitwise reports Google Checkout’s $10 off $30 promotion (and the just announced $20 off $50) is helping the company to buy its way into the online payment processing market.
Its market share of visits was up 30% in the past four weeks (week ending 11/18/06 vs. week ending 10/21/06), and soon it should rank in the top 20 Google properties.
While PayPal gets 70% of its traffic from eBay, Google Checkout is casting a wider net with its partner network. Here’s where Google Checkout is getting its traffic from…