Google (GOOG) CheckOut does not seem to have taken much business from Ebay’s (EBAY) PayPal. At least not according to a look at the Ebay 10-Q.
But, Google, always one to pull out all of the stops, is running a promotion on its homepage, which gets over a zillion pageviews a day. The deal. Use CheckOut and get a $10 bonus when purchasing goods and services from a number of sites. These merchants include Starbucks (SBUX), ToysRus, Petco, and Ace.
The move could actually take some share from PayPal because of the huge exposure that the program gets on the Google homepage and the large amount of money that it would appear that Google is willing to spend.
With PayPal as one of the cornerstones of Ebay’s success, it isn’t good news for the online auction company.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.