Feeds

Google boss confirms payment plan

Not aimed at PayPal

  • alert
  • submit to reddit

Top three mobile application threats

After rumours earlier this week that the search giant was going after PayPal's personal payment service Google's chief executive has confirmed that the firm is looking at online payments but it would not be competing directly with PayPal.

PayPal parent eBay saw its share price dip sharply on rumours that Google was waiting in the wings.

Eric Schmidt, chief exec at Google, told Reuters: "The payment services we are working on are a natural evolution of Google's existing online products and advertising programs, which today connect millions of consumers and advertisers."

He said the firm was not creating: "a person-to-person stored-value payments system" - which is PayPal's model. PayPal attracted the attention of regulators when it launched because by storing individuals money it was acting as a bank.

Schmidt would not be drawn on further details beyond: ""We believe that e-commerce can be improved and we are working on ways to improve the user experience."

Some more details on Reuters here. ®

Related stories

Google aims for PayPal
Google finds web-only video clips
Google Books under fire

Combat fraud and increase customer satisfaction

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Intel sees 'signs of improvement in the PC business' but earnings remain 'Meh...'
Prospects for the future, however, please Wall Street money men
What's a right pain in the ASCII for IBM? Its own leech-like hardware biz
Keep your eyes on our cloud while we remove this pesky thing, say execs
Oracle's Larry Ellison has the MOST MASSIVE PACKAGE IN PUBLIC
Billionaire IT baron earns twice as much as the next in line, Disney chief Bob Iger
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.