Google Will Not Compete With PayPal

Rich Tehrani : Communications and Technology Blog - Tehrani.com
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Google Will Not Compete With PayPal

Directly anyway. It seems according to the New York Times that Eric Schmidt the CEO of Google denied the implications that their new service will compete with EBay’s online payment division in PayPal.

PayPal has thrived in the last half-decade, growing from 24 test users in 1999 to 72 million accountholders through March. Looking to profit from the fees that PayPal collects from completing online transactions, San Jose-based eBay bought the service for $1.3 billion in 2002.

My take? Google will start using their electronic payment service  for things like Froogle and their advertising programs AdSense and AdWords. In time it will evolve to become PayPal.

A more radical concept is that credit cards from Google and PayPal will be commonplace in 5-10 years.



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