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Eric S.: Gbuy is short before launch

Corsin Camichel [PersonRank 10]

Friday, June 16, 2006
14 years ago2,596 views

Eric Schmidt confirmed at an analyst meeting in New York that Google is working on an online payment system.
He also says, Gbuy will NOT be a competition for PayPal, because Gbuy will not focus on end users, more on businesses.

I am searching for an English report and post it later.

David Hetfield [PersonRank 10]

14 years ago #

where is the 'short before launche' sentence?!

and of course its gonna compete PayPal..he's just saying that to be nice :)

Niraj Sanghvi [PersonRank 10]

14 years ago #

usatoday.com/tech/products/ser ...

"It's not like PayPal at all," Schmidt said when asked about "GBuy" during a New York meeting hosted by Conde Nast's new Portfolio business magazine.

"It makes no sense for us to go into businesses that are occupied by existing leaders," he said. "We want to solve new problems in the payments space."

He said the system was targeted at advertisers and not general consumers, but he did not elaborate on how it differed from PayPal. Google officials could not be reached for further details. (...)

Mambo [PersonRank 10]

14 years ago #

> "It makes no sense for us to go into businesses that are occupied by existing leaders,"

Flickr = Picasa Web Albums

Google Page Creator = pretty much any site design site (freewebs?)

Google Reader = any aggregator at all (although reader is by far the best. good product)

--- speaking of which, why do google make these? how do they make money from these services?

Corsin Camichel [PersonRank 10]

14 years ago #

They don't. Google is searching for other ways to monetize their stuff (Picasa web with extra storage for example, Google Purchase with 1.5 to 2% comission). Or all of this is one (evil?) plan from inside the Google heads and one day, all of that makes clearly sense.

OReO [PersonRank 10]

14 years ago #

[Moved from new thread: Google Pal???. -Philipp]

Google Pal: Internet search leader Google is testing a system that aims to speed purchases online but bears no resemblance to the popular PayPal payments service of web auctioneer eBay, Google's chief executive said on Thursday.

Analysts had recently speculated whether Google would directly compete with PayPal, dubbing its potential new service "GBuy." Google has not yet announced details of such a service or given it a name.

But Google CEO Eric Schmidt provided limited details about the system on Thursday. The company's payment system will aim to facilitate quicker purchases by a consumer from a marketer, and a beta version is expected soon, he said. He said the system was targeted at advertisers and not general consumers, but he did not elaborate on how it differed from PayPal.
AP and Reuters contributed to this report.

inhome.rediff.com/money/2006/j ...

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