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Stories · 1
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Google Wallet May Compete With Paypal
theskeptic writes "According to the WSJ, Google plans to offer an electronic-payment service that could help the Internet-search company diversify its revenue and may heighten competition with eBay's PayPal unit. Codenamed Google Wallet, a payment service could represent a significant expansion beyond online advertising, which generated 99% of its $3.2 billion in revenue last year. Google's move could potentially threaten eBay's successful PayPal service, which generated $233.1 million, or 23% of eBay's revenue in the first quarter."