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.
nmp
September 8, 2005 at 7:53 pmit doesn’t matter about the impressive numbers of paypal having 72 million accountholders. i myself have 6 paypal accounts. quite recently, they pissed me off so badly, i’ve decided i’m going to ditch it for good. paypal doesn’t work by the rules as a financial institutions, and right now, i’d rather pay a bit more to use banks that are more regular. the worst part is, paypal wouldn’t even allow me to close the accounts. so, u’ll just see the numbers growing, but it’s deceptive.
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