Google to take on PayPal [link]
 

http://www.reuters.com/financeNewsAr...ryID=88 27946

or

http://tinyurl.com/brkvb

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Google plans pay service to rival PayPal-WSJ
Fri Jun 17, 2005 08:42 PM ET
NEW YORK, June 17 (Reuters) - Google Inc. (GOOG.O: Quote, Profile, Research) this year plans to offer an electronic-payment service that could help the Internet-search company diversify its revenue and may heighten competition with eBay Inc.'s (EBAY.O: Quote, Profile, Research) PayPal unit, the Wall Street Journal reported on Friday.
Exact details of the search company's planned service are not known, the report said, but quoted people familiar with the matter as saying it could have similarities with PayPal, which allows consumers to pay for purchases on Web sites by funding electronic-payment accounts from their credit cards or checking accounts.

A Google spokesperson contacted by Reuters declined comment.

For Google, based in Mountain View, Calif., a payment service could represent a significant expansion beyond online advertising, which generated 99 percent of its $3.2 billion in revenue last year, the Journal said. Online-payment providers typically take a commission on each transaction.

Depending on the exact details, Google's move could potentially threaten eBay's successful PayPal service, which generated $233.1 million, or 23 percent of eBay's revenue in the first quarter, the newspaper reported.

Rumors about a new Google payment service escalated following a panel discussion at a Piper Jaffray Internet conference on Thursday, the newspaper said.

At the conference, Scot Wingo, chief executive of ChannelAdvisor, a Morrisville, N.C. e-commerce consulting firm, said he believed the payment service would be launched soon, according to the newspaper.

In an interview, Wingo said he based his statement on questions from retailers with which his company works, according to the Journal.

Wingo said the retailers have asked him whether ChannelAdvisor would support the service, which some believe goes by the code name Google Wallet.

? Reuters 2005. All Rights Reserved.

http://www.gofuckyourself.com/showthread.php?t=482321

;P

GPay.com owners better get their bank accounts ready

i haven't posted anything new since i got to gfy, why start now.

Thats interesting

I think its great personally. Paypal needs some real competition to clean it's fucking act up.

:2 cents:

If they will allow adult transactions that will really kick ass.

Holy fuck. Google is still expending. 3.2 billions revenue last year.. it's BIG !

Why are some people calling it Google Wallet ? Wouldn't Google come up with something original ? Doesn't Microsoft already use Passport and Wallet ?

"Google Wallet" sounds like something used to store credit card information, sounds to me like they're competing with yahoo wallet.

anything is better than Paypal. paypal is full of scams

GMoney, GPay, GBank, GCash
whatever they call it, people will sign up anyway.

Interesting. Maybe it would be cheaper to buy an existing smaller payment outfit then upgrade and incorporate it into their system? Example: Yahoo's purchase of rocketmail produced Yahoo mail.

Yep :thumbsup

Wishful thinking, but now that their "public" not a chance in hell.

pay.google.com :winkwink:

This coudl be good...

would be really cool. Hope they don't go enroute of paypal and ban all adult related transactions. Would be cool too if you were able to spend it on ebay too... otherwise it's not going to go anywhere,