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Google CEO Confirms Online Payment System

Posted by Zonk on from the your-g-branded-online-wallet dept.

didde writes "Reuters is reporting on statements that Google's CEO Eric Schmidt had made regarding Google's upcoming payment system. Apparently they're not looking to compete with PayPal." From the article: "Schmidt said Google does not intend to offer a 'person-to-person stored-value payments system' like PayPal's, in which money briefly resides in PayPal's control during the transaction, but he did not give details of how the Google system would differ."

1 of 251 comments (clear)

  1. Google by kutsu119 · · Score: 1, Flamebait

    Google has many fingers in many pies.

    BUT

    are they over-estimating the strength of the market brand and the benefits of offering such services?