Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sundanese Sundanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu



Article Navigation

Back To Main Page


Click Here for more articles

Google to Compete with PayPal?
by: Ross MacIver
PayPal is secure in its domination over the electronic payment industry, at least for now.

Following reports that Google planned to launch a new Internet payment service (nicknamed Google Wallet), Eric Schmidt, CEO of Google, denied that Google would be directly competing with PayPal. He did, however, acknowledge that Google has plans for some type of electronic payment service.

Without revealing any details, Schmidt emphasized that the Google payment service will not offer the same sort of “person to person, store-valued payments system” as PayPal provides.

The Internet commerce industry was rampant with rumours of the new Google service following an e-commerce conference hosted by securities firm Piper Jaffray. Speculation that Google Wallet would encroach on PayPal territory was reinforced by the appearance of a June 20th article in the Wall Street Journal which stated that Google was planning an online payment service to compete with PayPal.

PayPal is a unit of eBay and generates almost 25% of total eBay revenue. It is used by consumers for making a wide variety of Internet purchases. It allows purchasers to use their credit cards without divulging their credit card numbers to merchants. PayPal takes a percentage of each transaction and had revenues of $233.1 million in the first quarter of this year.

Most of Google’s revenue comes from online advertising and this expansion into online payments was seen by many in the industry as yet another example of the rivalry between the two companies.

Google is a giant in Internet commerce with revenues of $3.2 billion last year. A payment service that competed directly with PayPal would be a serious blow to both PayPal and eBay.

Google maintained silence about the rumours until Schmidt’s comments last Tuesday. Without elaborating, he stated that Google’s payment service would be an extension of its existing advertising programs.

About the author:
Copyright 2005 by Ross MacIver

This article may be redistributed freely on the Internet or in ezines as long as the resource box and hyperlinks remain intact.

Ross MacIver is the director of Best Online Content. We provide quality content for your web site and offer a full range of design and SEO services.

Circulated by Article Emporium


©2005 - All Rights Reserved

Total Views stat / Page Views stat

Advertise Here

web page counter