Google is creating a financial comparison site called Google Merchant Search and is competing head to head with the likes of MoneySupermarket and Confused.com.
Currently the site is only offering comparisons between different secured loans from financial services providers in the UK but if the service is a success then Google is likely to expand to other high value services such as mortgages and insurance.
This is potentially big news for the big financial affiliate sites in the UK. No longer do they just have to compete with Adwords advertisers they need to compete with the universal search results too as you can see from our mock up below:
Unlike other services such as Product Search Google has some aggressive monetisation plans for Merchant Search. According to the FAQ’s Google will get a commission whenever somebody requests a quote rather than just being paid per click like with Adwords.
How do you choose which providers to show me?
Our search results are based on the criteria you provided in your request; we compare your request with our list of participating providers, and show those that are most relevant for you. Participating providers pay Google when someone requests a quote through this system.
More details about the service are below:
You can choose to contact any of the listed providers for a detailed quote. Just enter your information once, and Google will securely send your request to your selected providers. Your contact information is not shared with providers; a Google representative will connect them to you.
If you choose to call a provider, the numbers listed by Google here allow you to connect to the provider securely. This means your phone number won’t be passed on.