Eric Schmidt speaks up on GooPay, denies Google wants to compete with PayPal
By Richard Koman - June 21, 2005
AP reports that Google CEO Eric Schmidt has denied that Google is launching a competitor to PayPal, even as he confirmed that Google is in fact readying some manner of payment system.
"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. That's not much to go on but I would guess that Google's payment system would allow them to manage a cost-per-sale advertising model, in which they can integrate advertising placements, clickthroughs, sellthroughs, and user behavior.
In any case, Schmidt went to pains to disabuse the notion that GooPay would be a PayPal killer. "We do not intend to offer a person-to-person, stored-value payments system," he told AP. It's pretty unusual for Google to break its silence on unannounced initiatives. Perhaps they were concerned about the rumormill unnecessarily punishing eBay's stock?
Related stories: GooPay makes sense for Google's shopping, video, premium content businesses
WSJ: Google Readying PayPal Competitor
By Richard Koman - June 21, 2005 | Permalink | Comment
| Category: Google [GOOG]
| SVW Toolbar | SVW Newsletter | SVW Mobile
- NEW STORIES:
- Intel Experiment Could Save Millions in Data Center Power Costs
- Will East Coast Flood West Coast in Search of Jobs?
- GOOG Founders Could Buy All US Newspapers and Still Have $12bn
- Microsoft in Bay Area Recruiting Blog Sites for AdCenter Ad Network
- Silicon Valley Rocks! Charity Event for Local Schools
- Fishwrap: Changing Media and PR . . . Plus a Great Pep Talk
- Top of my 2008 Watch: Berlin Based Plista . . . and Online Dopplegangers
- The "Experiential Gap" . . . and the Growing Cosmos of Twitter Applications
- FT Anger on AIG Bailout
- Shift Happens . . . A Visit With One of My Favorite PR Companies