Need 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]