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Search marketing in the new media era.

June 22, 2005
 
Google's CEO Confirms Payment Service, Denies it Will Compete with Paypal
According to a report filed by Matt Hicks at eWeek, Google CEO Eric Schmidt said that the company does not plan to offer what he called a "person-to-person stored-value payments system."

Schmidt said that Google is looking to expand its current online payment services, which is largely used to handle payments from advertisers and to Web publishers in Google's popular online advertising programs..."The payment services we are working on are a natural evolution of Google's existing online products and advertising programs, which today connect millions of consumers and advertisers," Schmidt said, in the statement. "We are building products in the area to solve new problems in e-commerce."

So Google is likely developing a payment plan for existing services and those already announced (such as video search). Still, if Google Wallet is successful, why not take on PayPal?

Andy Beal | permalink | +marktd |



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