Pay Pal - eBay - Google

thirdsquare:

It’s quite obvious now that eBay is feeling pressure coming from the headquarters of Google. Last May Google announced that they themselves are going to come out with an online payment system such as eBay owned PayPal. Within moments of learning about it, PayPal president Jeff Jordan has started to monitor any talks and chats related to the one project that could dethrone them from their King of Online Payment Systems status.

While Google Chief Executive Eric Schmidt confirmed in press accounts that the company was building a payment service, Mr. Schmidt also denied it would directly compete with PayPal. Mr. Schmidt said Google didn’t intend to offer a “person-to-person, stored-value payments system,� which many people consider a description of PayPal’s service.

Mr. Jordan says he and his team immediately “dissected the wording� of Google’s statements. He says he doesn’t believe Mr. Schmidt..