Google plans to release “Gbuy” on June 28th according to Forbes. It is going to be a beta product with no transaction fees while in beta. After that it will be 1.5%-2% similiar to Paypal.
“Short term, GBuy is more negative for eBay than it is positive for Google,” Rohan said. “Longer-term, it could be a game-changer.”
Personally it will be nice for PayPal to finally have some competition.