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Google to take on Paypal


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Search engine outfit Google is planning to offer a secure online payment system to beat up Paypal, by the end of the year.

According to the Wall Street Journal, Google’s cunning plan will help diversify its revenue.

So far, few details of the Google plan are known. But the Wall Street Journal quoted people who ‘were familiar with the matter’ so it must be true. The system planned will be very similar to PayPal, which has proved to be a nice little earner for eBay.

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awsome, maybe more companies will start accepting online payments now. as most companies hated it because paypal has a stick stuck you know where :huh:

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Interesting.

I see a Google credit card coming out sometime in 2007 too :huh:

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Google is officially thinking of an online payment service, but not necessarily similar to eBay’s PayPal, as previously rumored.

“The payment services we are working on are a natural evolution

of Google's existing online products and advertising programs, which today connect millions of consumers and advertisers” Google CEO Eric Schmidt said to Reuters.

Schmidt added that his company is not looking for a "person-to-person stored-value payments system”, but for an improvement of “the user experience”.

The rumors on Google competing to eBay on a PayPal system mentioned by the Wall Street Journal on Friday led to a decrease of eBay share prices with 0.9%.

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