Google scraps processing fees for online merchants

10 Nov 2006
00:00

(Associated Press via NewsEdge) Online search leader Google said it is waiving the merchant processing fees for its 4-month-old payment service through December 31, hoping the offer will spur more retailers to check it out.

Merchants already could avoid the processing fees, depending on how much they spend on Internet advertisements distributed by Google.

The promotion is also available to merchants who don't advertise through the Mountain View-based company.

The payment service, called 'Checkout,' is designed to serve as an electronic wallet that enables consumers to buy products and services from a bazaar of merchants without repeatedly entering the same personal and financial information at each store.

Google's push into electronic payments looms as a potential threat to one of its biggest advertisers, Internet auctioneer eBay, which owns the leading online payment service.

© 2006 The Associated Press

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