Google plans pay service to rival PayPal-WSJ

dotcommakers · 06-23-2005, 02:10 AM

click here to go reuters site

Google plans pay service to rival PayPal-WSJ
Fri Jun 17, 2005 08:42 PM ET

NEW YORK, June 17 (Reuters) - Google Inc. (GOOG.O: Quote, Profile, Research) this year plans to offer an electronic-payment service that could help the Internet-search company diversify its revenue and may heighten competition with eBay Inc.'s (EBAY.O: Quote, Profile, Research) PayPal unit, the Wall Street Journal reported on Friday.

Exact details of the search company's planned service are not known, the report said, but quoted people familiar with the matter as saying it could have similarities with PayPal, which allows consumers to pay for purchases on Web sites by funding electronic-payment accounts from their credit cards or checking accounts.

A Google spokesperson contacted by Reuters declined comment.

For Google, based in Mountain View, Calif., a payment service could represent a significant expansion beyond online advertising, which generated 99 percent of its $3.2 billion in revenue last year, the Journal said. Online-payment providers typically take a commission on each transaction.
????: NamePros.com http://www.namepros.com/the-break-room/101094-google-plans-pay-service-rival-paypal.html

Depending on the exact details, Google's move could potentially threaten eBay's successful PayPal service, which generated $233.1 million, or 23 percent of eBay's revenue in the first quarter, the newspaper reported.

Rumors about a new Google payment service escalated following a panel discussion at a Piper Jaffray Internet conference on Thursday, the newspaper said.

At the conference, Scot Wingo, chief executive of ChannelAdvisor, a Morrisville, N.C. e-commerce consulting firm, said he believed the payment service would be launched soon, according to the newspaper.

In an interview, Wingo said he based his statement on questions from retailers with which his company works, according to the Journal.

Wingo said the retailers have asked him whether ChannelAdvisor would support the service, which some believe goes by the code name Google Wallet.

© Reuters 2005. All Rights

jeter4982 · 06-23-2005, 10:02 AM

This has already been reported at NamePros, but I can't wait until this service is released.

Tom

Sabre · 06-23-2005, 11:06 AM

Awesome!

If someone can post a link to the other thread, i can lock this one

jeter4982 · 06-23-2005, 12:19 PM

http://www.namepros.com/showthread.p...=google+wallet

06-23-2005, 02:10 AM	THREAD STARTER #1 (permalink)
dotcommakers Senior Member Join Date: Oct 2003 Location: world wide web Posts: 2,062 Follow @dotcommakers	Google plans pay service to rival PayPal-WSJ click here to go reuters site Google plans pay service to rival PayPal-WSJ Fri Jun 17, 2005 08:42 PM ET NEW YORK, June 17 (Reuters) - Google Inc. (GOOG.O: Quote, Profile, Research) this year plans to offer an electronic-payment service that could help the Internet-search company diversify its revenue and may heighten competition with eBay Inc.'s (EBAY.O: Quote, Profile, Research) PayPal unit, the Wall Street Journal reported on Friday. Exact details of the search company's planned service are not known, the report said, but quoted people familiar with the matter as saying it could have similarities with PayPal, which allows consumers to pay for purchases on Web sites by funding electronic-payment accounts from their credit cards or checking accounts. A Google spokesperson contacted by Reuters declined comment. For Google, based in Mountain View, Calif., a payment service could represent a significant expansion beyond online advertising, which generated 99 percent of its $3.2 billion in revenue last year, the Journal said. Online-payment providers typically take a commission on each transaction. ????: NamePros.com http://www.namepros.com/the-break-room/101094-google-plans-pay-service-rival-paypal.html Depending on the exact details, Google's move could potentially threaten eBay's successful PayPal service, which generated $233.1 million, or 23 percent of eBay's revenue in the first quarter, the newspaper reported. Rumors about a new Google payment service escalated following a panel discussion at a Piper Jaffray Internet conference on Thursday, the newspaper said. At the conference, Scot Wingo, chief executive of ChannelAdvisor, a Morrisville, N.C. e-commerce consulting firm, said he believed the payment service would be launched soon, according to the newspaper. In an interview, Wingo said he based his statement on questions from retailers with which his company works, according to the Journal. Wingo said the retailers have asked him whether ChannelAdvisor would support the service, which some believe goes by the code name Google Wallet. © Reuters 2005. All Rights Last edited by dotcommakers; 06-23-2005 at 02:14 AM.

06-23-2005, 11:06 AM	#3 (permalink)
Sabre First Time Poster! Join Date: Aug 2004 Location: Chelmsford, UK Posts: 11,421	Awesome! If someone can post a link to the other thread, i can lock this one __________________ NamePros Google Panda / Penguin Thread SEO Services \| UK PPC Company \| UK Website Analysis Service Cheap Backpacker Travel Insurance \| Cheap Family Travel Insurance \| Cheap Travel Insurance \| Cheap Holiday Insurance\| UK Dedicated Servers

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06-23-2005, 10:02 AM	#2 (permalink)
jeter4982 Senior Member Join Date: Oct 2004 Location: CT, USA Posts: 3,299	This has already been reported at NamePros, but I can't wait until this service is released. Tom

06-23-2005, 12:19 PM	#4 (permalink)
jeter4982 Senior Member Join Date: Oct 2004 Location: CT, USA Posts: 3,299	http://www.namepros.com/showthread.p...=google+wallet

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