Google confirmed that they are working on an online Payment system like PayPal, but said that it will not compete with PayPal, instead they will be looking to solve “new problems in payments sector”
According to BetaNews:
“Analysts had long suspected that Google was developing a payment service, but most had seen it as a competitor to PayPal. Thursday’s comments are the first public indication of the company’s plans, although several questions still linger. Google still is staying mum on specifics.”
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