Google Ends Free Processing

Google has ended their free merchant (credit card) transaction processing program for Adwords advertisers. This was a fantastic incentive for advertisers to use adwords and integrate Google Checkout into their online checkout process.

We all knew you Google wouldn't offer free processing forever, but the obvious play would be to offer it free while they turned checkout into a full featured competitive service that they could charge for. Well the big G simply skipped that step. They never improved the offering and simply waited until enough companies integrated it into their web checkout process to start charging for it. More and more the Google is not being seen as "The Good Guys".


Beginning on May 5, 2009, transaction processing rates will be determined by your sales volume during April 2009. Each month thereafter, Google will continue to use the prior month's sales volume to determine your transaction processing rate as follows:

Monthly Sales Through Google Checkout

Fees Per Transaction

Less than $3,000 2.9% + $0.30
$3,000 - $9,999.99 2.5% + $0.30
$10,000 - $99,999.99 2.2% + $0.30
$100,000 or more 1.9% + $0.30

An additional 1% fee will be assessed on transactions where the merchant's country is different from the buyer's billing country. With 10 days notice, we may also charge higher transaction processing fees to merchants that incur excessive chargebacks or otherwise pose financial risk to Checkout.

Transaction processing fees for non-profitsGoogle Grants recipients based in the United States are eligible for free transaction processing for donations received through Checkout until January 1, 2010. All other IRS certified 501(c)(3) organizations will be charged a low 2% + $0.20 per transaction until May 5, 2009, after which they will transition to the tiered pricing structure outlined above. There are no monthly, setup, or gateway service fees. We reserve the right to impose reasonable limits at our discretion.

Other Fees
With its proprietary fraud detection technology, Google Checkout works to protect you from unwarranted chargebacks. In cases where you are found liable for a chargeback, you'll be charged the full amount of the chargeback plus an additional $10 chargeback fee.

Google Checkout offers you the ability to partially capture funds and explicitly reauthorize an order if the initial 7-day authorization window expires. You will be charged $0.20 each time you charge an order. As of May 5, 2009, you will be charged $0.30 each time you charge an order.

Google is as expensive, if not more expensive than all other services such as Pay Pal, yet they have None of the features of Paypal. Bank of America customers can use their Small Business solution that includes a great deal of features every Small Businesses needs along with processing transactions. I like that you can automatically export all business transactions into accounting programs like Quickbooks.

PayPal
Bank of America online business suite
Bank of America online merchant processing

So if you are using Google Checkout I believe it is time to find a new merchant processing solution that offers you all the features you need at a reasonable price.

Susan Boyle 7 Minutes of Inspiration

So much emotion ran through me when I watched Susan Boyle for the first time, and for the 14th.

There is so much about life that comes to light in this 7 minute video which unfolded in the UK last week, that I encourage all of you to watch it and feel this emotion for yourself.http://www.youtube.com/watch?v=9lp0IWv8QZY

We are so quick to judge, so harsh with the unfamiliar, media and egotistical pride has slowly eroded us into shallow people that rarely look beyond first impressions. In the most peaceful and beautiful way , the least likely person, Susan Boyle, has given the world a stunning reason to reflect on what life is really all about.

You may mistake Susan for the lunch lady at the local high school. Her thick Scottish accent may have you asking "what did she say"? with every other sentence. But when Susan sings, her message could not be more clear.

Regardless of the odds Susan was willing to try and live out her dream. Last week in front of a large audience she succeeded in an extraordinary fashion.
The emotions she invoked in me brought a tear to my eye. And I'm no Allen Alda supporter. Susan proved shallow judgments to be what they truly are - our weakness. She showed that anyone who has a dream can live it IF they are willing to take the chance to go after it and risk failure for the glory of success.

As a person who has been involved with the Internet since 1994 I have seen the good and bad of the medium. This is certainly a case for the good. The Internet has allowed millions of people around the world to share in this experience in less than a week.
I cannot put into words all the important lessons we can take away from this one performance that represents the culmination of one persons dream. I can only say please go watch it, you will be inspired.

http://www.youtube.com/watch?v=9lp0IWv8QZY
If you want to hear her sing another song, Susan has one other performance and fittingly it was for a Charity CD back in 1999. She sings "Cry Me River" http://www.youtube.com/watch?v=jI2DxkrgpgQ

LendingTree Website Disclosure - WOW

So I always thought LendingTree had a great slogan and model.

"When Lenders Compete You Win"

Consumers fill out one app for a loan and they get multiple offers from lenders competing with the best rates and terms. Their T.V. commercials are very clever as well.

So their big proposition is that they have a bunch of banks compete for your business. They are the trusted place to give your loan app and then arbitrarily companies compete.
I just read their website disclosure page and Check this out.

Seems that Lending Tree is also THE LENDER COMPETING, and in some cases THEY ARE THE ONLY LENDER.

About LendingTree LoansYour loan request may be matched with Home Loan Center, Inc., which also does business under the names LendingTree Loans, Home Loan Center, Inc. dba LT Loans, Home Loan Center USA, Inc. and Loan Center, Inc., LT Loans or Online Home Center (depending on the state), a wholly owned subsidiary of LendingTree, LLC. Home Loan Center/LendingTree Loans is a licensed mortgage lender/broker authorized to do business in every state. Home Loan Center/LendingTree Loans specializes in certain types of consumer loan requests. Home Loan Center/LendingTree Loans makes loans and earns fees for its services separate from LendingTree, LLC. You may be matched with Home Loan Center as one of your competing lenders or LendingTree Loans as your only lender.

After this whole mortgage fiasco, LendingTree still has the Crabapples to pull this kind of charade on consumers. So exactly why are people so upset with bankers lately?

Sometimes I'm embarrassed to be called a marketer.