Google Wallet May Compete With PayPal

[ConceptualMind]

"According to the WSJ, Google plans to offer an electronic-payment service that could help the Internet-search company diversify its revenue and may heighten competition with eBay's PayPal unit. Codenamed Google Wallet, a payment service could represent a significant expansion beyond online advertising, which generated 99% of its $3.2 billion in revenue last year. Google's move could potentially threaten eBay's successful PayPal service, which generated $233.1 million, or 23% of eBay's revenue in the first quarter."

Source: http://slashdot.org/article.pl?sid=0...15203&from=rss

What are your thoughts on this? Is Google becoming an Internet monopoly?

[Man1c M0g]

I have no problems with Google becoming a monopoly really - unlike many other services they seem to have a great work ethic, and are not out there to gouge the customers silly. Paypal, for example, charge a high premium for their services, and its not available in every company. The only alternative to this is Western Union, who charge STUPIDLY HIGH service fees. If Google can pull off a world-side service with prices competitive or better than paypal, i'd definately move over to them!

[Order]

Google, since becoming a public company, now have the money to do this, they have investors who are backing them. They have always been positive, and have always had fun.

I read somewhere that they work in percentages. You spend 40% of your day on an assigned project, another 40% on a project of your choice, and 20% on whatever you want to. GMail was the result of one employes playing off time.

Should Google decide to move into the markets of Ebay, they may find themselves making more money from people who are dissatisfied with Ebay and the like. PayPal does charge percentage fees for business accounts (which I do have), if Google can successsfully squish that, or present a more reasonable form of it, then I would even be for it.