Google Wants To Be Your Bank, Too

from the Gpal?-G-Money? dept

Is there anything Google won't eventually launch on its own? There were some random rumors earlier this week that Google was working on their own iTunes-type offering, but now the Wall Street Journal and Reuters are reporting that Google is getting close to launching a PayPal-wannabe payment system, nicknamed Google Wallet (not quite as fun as "G-Money" would be). The rumor is based on a panel discussion where an e-commerce consultant said some of his clients had been approached by Google about using such a system. Of course, Yahoo had their own PayPal wannabe for a while, called PayDirect, that they eventually shut down after no one used it. Even eBay had their own PayPal wannabe that no one used before buying PayPal. Despite that, Google certainly seems to be pretty good at getting people to adopt their offerings -- and if they can really improve on the PayPal experience, a lot of pent-up frustration directed at PayPal could drive plenty of users to the Google solution. Just one more step down the path for Google to be competing directly with eBay, apparently.
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  1. identicon
    Kartik, 20 Jun 2005 @ 8:40am

    Re: One way...

    I can see how linking g-mail with google wallet would create a nice seamless product. electronically send mail and money, all using the same interface. count on google coming up with a stategy that creates a strong demand for it's service, just like they did with g-mail. also, look for google to enter the retail market, either with music and/or video and use its payment service to facilitate transactions.

    I think this is a good entry point for google wallet because paypal will be discontinuing their bill pay service in august, which for many of us is a feature that's really important.

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