Has PayPal Met its Match?
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FacebookNeed another reason to buy stock in Google? The word on the street is that Google is preparing to roll out their PayPal competitor, GBuy, and that PayPal views it as “a very legitimate competitive threat.” That being said, Google denies that their service will be a direct competitor to PayPal. More specifically, Google argues that they will not be offering a “person-to-person, stored-value payments system,” which is basically what PayPal offers. It still remains to be seen what (exactly) Google has up their sleeve. But whatever it is, I’m willing to bet that it’ll be good.
[Source: Wall Street Journal]
Published on February 7th, 2006 - 7 Comments
Filed under: Online
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About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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I hope they do come out with something like PayPal — it would be nice to have some competition in this area.
Comment by FMF — Feb 7th 2006 @ 10:25 amWith all of the services that Google is rolling out I can’t help but wonder to what extent this one company will eventually control our entire online computing experience regardless of platform.
Comment by Jay Fleischman — Feb 7th 2006 @ 1:58 pmoh please let this be true.
i hate paypal.
Comment by daniel — Feb 7th 2006 @ 2:00 pmIt is definately true that GBuy is going to be available. Exactly what form it takes is not clear yet, but they claim it will not be a consumer to consumer fee handler like paypal is. Eventually, I am sure that they will be.
Comment by Blaine Moore — Feb 8th 2006 @ 7:33 amI wouldn’t be surprised if GBuy is aimed at micro-payments (e.g., a 25 cent charge to gain access to a story) on web sites. This area is currently wide open because it’s a money loser (the transaction fees cost more than the income.)
Comment by Jeremy — Feb 8th 2006 @ 10:13 am