Sunday June 19, 2005 1:42 pm
Google To Offer Healthy Competition To PayPal
Those of you who don’t like PayPal should be pretty happy to hear this news- the Wall Street Journal reported online Friday that search engine giant Google is planning to roll out it’s own payment proccesor sometime later this year. This could be bad news to PayPal owner eBay, since the payment processor accounted for 23% of eBay’s revenue in the first quarter of this year. Google could pose a major financial threat to one of it’s biggest advertisers, but that might not be such a bad thing.
Expanding into online payments might make Google less dependent on advertising, which accounted for nearly all of its first-quarter revenue of $1.26 billion. The merchants who run auctions on eBay are major buyers of Google’s ads, which appear alongside search results.
Read More | USA Today
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