Google Checkout Goes Fee-less in 2007

According to reports, Google will be eliminating fees from its online payment, Checkout. To compete better with PayPal, Google is letting merchants use its Checkout system to process payments without taking a hit on transactions. Traditionally, merchants who use PayPal take a 2.9-percent hit on the total value of a transaction plus another 30-cents for actually processing a transaction. Over the years, many PayPal users have scoffed at the high fees that PayPal enforces on its customers. Despite this however, PayPal remained a growing and popular online payment service for users worldwide.

This is a huge deal because some regular eBay sellers constantly owe a good chunk of change to PayPal. Now all we need is for Google to release an eBay killer, since eBay doesn’t allow anything but PayPal on their site.