http://www.msnbc.msn.com/id/8264385/

Report: Google to start new payment system
Electronic service would rival eBay's PayPal
The Associated Press
Updated: 4:51 a.m. ET June 18, 2005

MOUNTAIN VIEW, Calif. - Online search-engine leader Google Inc. is preparing to introduce an electronic payment system later this year in a move that would pose a financial threat to one of its biggest advertisers, Internet auctioneer eBay Inc.
The Wall Street Journal reported Google's plans on its Web site late Friday, citing sources familiar with the Mountain View-based company's plans. The Journal did not provide any details about Google's strategy.
A Google spokesman declined to comment on the report.
The likelihood of Google rolling out an online payment system to rival eBay's popular PayPal service became a hot topic during an Internet conference hosted Thursday by Piper Jaffray.
"It could be a pretty big negative for eBay if it happens," said Piper Jaffray analyst Safa Rashtchy, who follows Google as well as the Web's leading auction site.
PayPal accounted for $233.1 million, or 23 percent, of eBay's revenue during the first quarter.
San Jose-based eBay bought PayPal for $1.3 billion in 2002. The payment service makes money by collecting a fee from the transactions that it helps complete. The electronic accounts are funded by credit cards or banking account transfers.
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.
¿ 2005 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
¿ 2005 MSNBC.com

I wonder if Google's payment system will be free (no fees).

This would be great, I'd trust google anytime over paypal

I would definitely trust Google over that Greenzap scam.

Next: Google Auctions!

Gawktions?

It would be nice to have a Google auction service though.

Seems like Google is trying to get its hand on everything. I donno if it's a good thing though.

Recently heard a long discussion on NPR about Google taking over the world. They were hypothesizing about scary things which were completely plausible. Recently I also saw on PBS Charlie Rose interviewing Google's CEO or CFO (I think), who said that Google is determined to, over decades, digitize and catalog ALL information in the world that can be digitized.

Now, that sounds like a grand idea. But, paraphrasing the panelists in the NPR discussion "what happens if the nice guys who run Google now leave and not so nice guys come in their place. What happens to all the petabytes of information that Google has on virtually anyone in the world?"

Having said all that, YAY, it's about time PayPal got a worthy competitor! Even with similar rates I would switch to GooglePal any time.

hmm....at first I wondered what that has to do with search, which most of their various things are built around...but I guess it could function as a draw to google auctions.

I wonder....will they call it GBay?

Hey, dreams do come true!

Google to Offer Payment Service To Compete With eBay's PayPal

Anything is fine as long as it's not eGay. And don't call the payment service GayGal.

Those domain names are probably already taken anyway.

It'd probably end up being something more like GCash. But they already have something in the Philippines that's called that.

gwallet.com was already grabbed by a squatter.

GPay, maybe...

yo yo yo gMoney.com (too bad it's already an existing site)

The CIA supposedly has strong ties with Google. Perhaps they're looking to pawn off Area 51.

http://maps.google.com/maps?q=groom+lake,n...20678&t=k&hl=en

Hmmm, can't zoom in too close. It's a conspiracy I tell ya!

http://www.googlewallet.com/ already taken.. darn.

Not talking about zooming in....a lot of rural areas don't have detailed data either. But you don't need to zoom in to notice that big white gaping hole.

If we start a pool on what google's rival site to paypal will be called, my money is on gsend.com

If they go into real estate think they'd call it ...

gland.com

gspot.com

There ya go ... perving up a FINANCE thread!

actually its taken...I checked. .but maybe .something

Google realized their search engine would be used primarily for porn.

Thats where they got their name in the first place:

G-oogle

My bet is still on GPay.

Maybe it'll be something that rhymes with Google, like how they have Froogle as their price comparison site. I can't think of anything that rhymes with Google that they can use as a name for this payment system though.

Poogle

Moogle

Or, www.greatgooglymoogly.com

McDoogle.

Doughle?
Moola-oogle?
Cash-oogle?
Buck-oogle?
Mon-oogle?

Schlameel ... schlamozzle ...

**disclaimer: no actual intent to harm kittens**

Now the tune is changing: What, ebay worry?

Based on that article, it makes me wonder if they're talking about a micro-payment system. You know - 1 cent to access this article from a newspaper, 2 cents to view this video of your local newscast, etc.

But, why?? Don't they realize most people hate Paypal and would use any other available service?? What a waste!

when they buy Amazon, then we can worry..