When Google released its Checkout offering last week, there was a lot of discussion over whether or not it was a Paypal competitor. Most people agreed that while it did some of the same things, it was really targeting a different market. Even eBay made some statements to that effect. However, eBay's actions suggest that they actually are quite worried about Checkout. They've now banned eBay sellers from using Google Checkout, claiming that it's not trustworthy, since Google does not have a "substantial historical track record of providing safe and reliable financial and/or banking related services." That seems like a pretty weak statement. If they just want to block out a competitor, that's one thing. However, claiming that Google isn't trustworthy enough in financial transactions is clearly the company just coming up with a random excuse to hide behind to avoid admitting that they're actually worried about the new competition from a big player.
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