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Google, Paypal not Competitors Says Google CEO

 
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Haggs Reply with quote
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Joined: 05 May 2004
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Location: Minneapolis, Minnesota
PostPosted: Thu Jun 23, 2005 7:04 am    Post subject: Google, Paypal not Competitors Says Google CEO
 
Reuters has confirmed rumors that Google is creating an online payment system. However, Google CEO, Eric Schmidt, said that the system would not be a direct competitor of PayPal. According to the article, "Google does not intend to offer a 'person-to-person stored-value payments system' like PayPal's, in which money briefly resides in PayPal's control during the transaction."
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