Google taking on PayPal

It appears that Google will soon be talking on PayPal in the online transaction market according to techcrunch.com (article). Google have registered the "Google Payment Corporation" and googlewallet.com has been registered (although the whois entry doesn't look much like Google to me)
PayPal currently have over 72million users so it will be no easy task for Google. Also a large number of PayPal transactions would come off the back of Ebay - what service does Google currently offer that creates online transactions? Perhaps they have some further plans for Froogle in the making?... or will start charging for some of their beta services? Actually what is more likely is they will integrate some sort of payment engine into their adsense program along with a planned classified search system.

More links: Wall Street Journal, USA Today, John Battelle


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