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 Computer network payment service (nicknamed Google Wallet), Eric Schmidt, CEO of Google, denied that Google would-be be directly competitive with PayPal. He did, however, acknowledge that Google has plans for several type of electronic payment service.
Without revealing any details, Helmut heinrich waldemar schmidt emphatic that the Google payment service wish not offer the same sort of “person to person, store-valued payments system” as PayPal provides.
The Computer network 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 Billfold would-be encroach on PayPal territory was reinforced by the appearance of a Gregorian calendar month
Twentieth article in the Wall Street Journal which declared that Google was planning an online payment service to vie with PayPal.
PayPal is a unit of eBay and generates about 25% of total eBay revenue. It is used by consumers for devising a wide variety of Computer network purchases. It allows purchasers to use their credit cards without divulging their credit card amount to merchants. PayPal takes a percentage of each dealing and had revenues of $233.1 million in the 1st quarter of this year.
Most of Google’s revenue comes from online advertising and this expansion into online payments was seen by galore in the industry as yet another example of the competition between the two companies.
Google is a giant in Computer network commerce with revenues of $3.2 billion last year. A payment service that competed directly with PayPal would-be be a serious blow to several PayPal and eBay.
Google maintained silence just about the rumours until Schmidt’s comments last Tuesday. Without elaborating, he declared that Google’s payment service would-be be an extension of its existing advertising programs.
Just just about the author:
Copyright 2005 by Ross MacIver
This article may be decentralized freely on the Computer network 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.
