Google pulls the plug on comparison
By Alastair DouglasFeb 24th 2016
Google has started to wind down its financial products comparison service less than one year after it was launched in the US. It will be shut down completely in both the US and UK by 23 March 2016. Google compare will be familiar to most people as the special box that appears at the top of Google's search results for searches such as "credit card". As the CEO of a business that both competes with Google Compare (through our credit comparison platforms) and is also a customer (we promote our own credit products on Google Compare), I find this an interesting, but unsurprising development. Clearly, Google Compare was not matching enough customers to the right types of credit products to be interesting enough to Google as a long-term business model.
We believe that consumer choice is very important. That is why we always show the widest range of credit products on our service, along with relevant information, so that our customers can make an informed choice about the best products for them. With Google Compare being mothballed, there will be less choice for consumers in the UK, but I don't think this is necessarily a bad thing in this case. At TotallyMoney.com, we have spent the past couple of years focusing solely on making credit comparison better. We think that understanding the likelihood that you will be accepted for a credit product is a key factor in making that choice. It can help customers avoid rejection and the consequent impact on their credit rating. This was a feature that Google Compare lacked.
An ongoing mission
We are still at an early stage on our journey towards delivering a fairer credit market for UK consumers. We will be releasing many new features this year aimed at putting our customers in control; we're arming them with the information they need to make the best decisions and get better deals. I look forward to sharing news about those soon.