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TVInews - Both Google and Ebay Need A Speedollar Charge-it Plan to facilitate its users buying whims.











































102Google Needs A SpeedollarPlan /
26th Week 2005 / A Speedollar plan is something every on-line service needs to help customers pay for "goods, products or services", says Bernie Schwartz of the TeleKey Group, whose company started Signet TeleKey Credit Card Systems in 1968.





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"No one has a monopoly in the "cashless society" -- charging a customers account automatically each month, or per sales event," Schwartz continued.
•• That description fits PayPals, "digital cash" by accepting credit card draft payments from its users and then delivering the payments to a designated recipient.
As e-commerce thrived over the TeleCom wireless media, so did PayPal, growing from 24 test users in 1999 to 72 million account holders through March. Looking to profit from the fees that PayPal collects from completing online transactions, San Jose-based EBay bought the service for $1.3 billion in 2002.
It was just recently that Google played with the idea during an e-commerce conference hosted by Piper Jaffray. The Wall Street Journal subsequently reported that Google hoped to roll out a rival payment service later this year. People familiar with the company's plans stated that subsidiary company called Google Payment Corp. was in the makings. But Schmidt indicated that the Speedollar project wouldn't stray far from its own search engine.
"The payment services we are working on are a natural evolution of Google's existing online products and advertising," he said without further elaboration. Eric Schmidt did not give details about the project but said it wouldn't trespass on PayPal's turf.
"We do not intend to offer a person-to-person, stored-value payments system," Schmidt said.
The speculation about Google's plans have raised investor fears that PayPal's growth might taper off, squeezing EBay's profit. Shares of EBay slipped 34 cents Tuesday to $36.90.
At the same time, investors have been hoping Google will develop another source of revenue besides online advertising, which accounted for almost all the company's $369-million profit during the first three months of this year. Shares of Google rose $1.14 to $287.84.

Since the announcement by Schmidt, Speedollars are now offered To EBay Users own Web Stores

Like Google, eager to find new sources of income and keep its sellers from striking out on their own, EBay Inc. is launching a service that encourages small and medium-sized sellers to build Web stores that will be more independent of the e-commerce powerhouse.
EBay's ProStores service will allow a seller to design a fixed-price e-commerce site with a non-EBay Web address. The service, which costs $6.95 a month with fees ranging from 0.5% to 1.5% of transactions, will allow sellers to link their custom-built ProStores sites to their EBay sites. The ProStores sites will be able to use PayPal, EBay's payment service.
While aggressively expanding into emerging markets such as China and India, the San Jose-based company also has experimented with online classified advertisements, real estate and other new business ventures to try to maintain double-digit revenue increases in the lucrative e-commerce markets of North America and Western Europe.
The new service comes about six months after EBay enraged many small-scale sellers with a hefty price hike that threatened to dent their profits. In mid-January, EBay warned sellers in a terse e-mail that the monthly subscription fee for people who operate "Basic EBay Stores" would increase from $9.95 to $15.95, and the fee for a standard listing of 10 days would double to 40 cents.
Also Thursday, Chief Executive Meg Whitman said the company, which ended 2004 with net income of $778.2 million and $1.33 billion in cash, may offer a dividend or repurchase some shares. Like many Silicon Valley technology companies, EBay has never paid a cash dividend, preferring instead to reinvest profit in research and development, marketing promotions and other business expenses.
"We aren't averse to returning cash to shareholders when we think we have a strategic reserve," Whitman said to about 100 shareholders who gathered in San Jose for an annual meeting. "But you have to be thoughtful of what you communicate when you do that."



ByLines: Editors Note

More Articles • Converging News 262005 / TeleCom Buy Outs and Asset Seizure Boom

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