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Saturday, June 18, 2005

Google Wallet?

Gary Price of Search Engine Watch quotes a Wall Street Journal article, saying Google has plans to offer PayPal-like services in the future. Some believe the code name for the project is “Google Wallet.” From the article:

“Google Inc. this year plans to offer an electronic-payment service that could help the Internet-search company diversify its revenue and may heighten competition with eBay Inc.’s PayPal unit, according to people familiar with the matter.

Exact details of the search company’s planned service are not known. But the knowledgeable people say it could have similarities with PayPal, which allows consumers to pay for purchases on Web sites by funding electronic-payment accounts from their credit cards or checking accounts. Some consumers like PayPal for the security it offers, since it allows them to share their banking or credit-card numbers only with PayPal without having to divulge the information to merchants.

Spokespeople for Google and PayPal declined to comment.”

Gary Price did a bit of research on the deep web and found that two months ago, Google Inc filed the paperwork with the California Secretary of State and formed the Google Payment Corporation.

Update: Carl Bialik of sends in a link to the article with no subscription required. Thanks Carl!


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