The right choice of online payment gateway is crucial for successful online deal both for sellers and customers. But does this choice is that easy to make? Obviously, it’s not. Everyone knows that Google Checkout and PayPal are one of top popular and trusted payment gateways processing online payments. PayPal has been around for years and its leading position was never questioned before Google Checkout was launched. Let’s take a closer look at both payment gateways and their pros and cons for merchants and customers.
If you need to choose between PayPal and Google Checkout to start accepting payments, consider the following features:
1) Percent charged per sale price and per transaction:
- Google Checkout: 2 % of the sale price + 20 cents per transaction
- PayPal: 1.9-2.9 % based on sales volume + 30 cents per transaction
2) Rates for global transactions. PayPal’s rates for cross-border transactions are rather high, whereas Google Checkout still provides this service for free.3) Flexibility. Google Checkout enables you to accept payments only via credit/debit cards. PayPal enables you to accept online payments made with credit/debit cards and bank accounts.
4) Access to your money. PayPal gives you an instant access to your money with Paypal ATM card. In case you use an ACH transfer to your bank account, money will appear on your account on the third or forth business day. All transactions made through Google Checkout are held for 2 business days and then appear on your bank account as a single ACH transfer.
5) Fraudulent return policy. PayPal does not have any limits on refunds, whereas fraudulent transaction made through Google Checkout system has to be reported within 60 days.
Image credit: Gateway To Eden
