Google not launching a Paypal type service - Merchant facilities instead?
Google Chief Executive Eric Schmidt has confirmed that Google is going into the internet payments business but has ruled out directly challenging Paypal, stating that they won’t be doing person to person tranactions.
Question is: if Google is going into some sort of payments business and it isn’t Paypal-esque then what in the world is it planning offer? Google credit card processing? they are big enough to offer their own credit card product as well, so maybe it will be a financial arm with merchant processing with merchants tied into a Froogle type service (or Froogle itself). The lackeys (sorry consumers) then get discounts using their Google credit card? Far fetched…probably, but if it isn’t like Paypal what else could it be.
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