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Google to start new payment system to compete with Paypal
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 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.
Posted by | Sat, Jun 18, 2005 - 10:56 AM
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