Quantcast
PCWorld.com is upgrading some back-end systems. Some site features, such as user registration, may be temporarily unavailable.
Subscribe to magazine

Google Confirms Work on Internet Payment Service

Denies head-to-head tussle with EBay's PayPal.

Scarlet Pruitt, IDG News Service

  • 0 Yes
  • 0 No

LONDON -- Google has confirmed that it is developing an online payment system, although it says it has no plans to take on EBay's PayPal service.

Following media speculation about such a move, the chief executive of the Web search giant, Eric Schmidt, told reporters in the United States that the company is working on payment services that would extend its existing online products and advertising services.

Representatives for Google in the United Kingdom confirmed Schmidt's remarks but declined to give further details.

Differences

Google does not plan to launch a person-to-person stored payment system that would compete directly with PayPal, but it is working on a payment system to improve the way e-commerce is done, Schmidt told reporters, according to the U.K. representative.

EBay's PayPal service allows businesses and individuals to send and receive payments online using existing financial infrastructure such as bank accounts and credit cards. Founded in 1998, PayPal now claims over 71 million account members worldwide.

Schmidt said that Google's aim is to solve other problems with e-commerce, according to the representative. Much of the search company's activity today revolves around online advertising and tools such as its Froogle online comparison shopping engine.

Founded in 1998, Mountain View, California-based Google has been credited with disrupting business models with its innovative services, pushing technology stalwarts such as Microsoft and Yahoo to rethink their search and e-mail offerings.

  • Recommend this story?
  • 0 Yes
    0 No
 

Featured APC Accessories

  • APC Back-UPS ES Safeguards your equipment from damaging surges and spikes that travel along your utility & data lines.
  • APC Smart-UPS Loaded with cutting-edge features, unique battery life predictor, unbeatable on-line efficiencies and software agents allowing remote UPS monitoring. Get 10% off your entire kart purchase!

People who read this also read:

  • 15 Minutes to a Secure Business Get the Secure in 15 toolkit starting with the "15 Minutes Month-at-a-Glance" calendar. McAfee will send you additional tools and tricks to stay protected around the clock.
  • A Buyer's Guide to Data Protection Implementing data protection products and processes can be daunting. Make the right decisions by exploring what is available and what makes sense for your organization. Use this simple guide to evaluate different vendor offerings.

Sponsored Links