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Tuesday, June 27, 2006

Finally: Google poised to compete with Paypal

I have to admit, many of Google's new ventures are, while pretty cool, not always aligned with my own internet needs ... until now. It is rumored that this week Google will launch an online payment service to compete with Paypal. GBuy, once rumored to be Google Wallet, is said to cost more than Paypal, but will offer discounts for AdWords clients.

Paypal, an eBay subsidiary, currently operates in 55 markets and manages 105 million accounts - Each second the site processes over $1,100 dollars in payments. The company has had its ups and downs including near bankruptcy, bouts with organized crime, and class action lawsuits.
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