This is an interesting take on Google making a Paypal like service. I have read about some real horror stories about Paypal. So it would seem that any real competitor will make them sit up and fix the problems people are complaining about.
The only problem I see about the whole thing is that Google really hasn't done anything like this before. PC world points this out:
Lots of would-be PayPal killers have come and gone, including ones from big-name financial institutions such as Citicorp. Most were me-too offerings at best. (BidPay seems to be one rival that's found a niche, but it did so by offering something that PayPal doesn't: The ability to send a money order electronically.) Google doesn't have any experience doing financial stuff, but considering the track record of companies that do have that experience, that might not be an impediment.
I have a feeling it could be an impediment if Google can't get the financial side of things worked out decently. They may benefit from an outside bank working that end of the deal while they work the technology end. But I guess they are confidant that they can do everything in house.
2 comments:
I met a couple of the cats from google while they were in town for a convention here in new orleans. I'll say this, if they put their mind to making / providing that service, they will and with flying colors.
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blog.UberDragon.net
Let's hope they do. From what I read Google is a great company with lots of smart people on board. I just hope they don't get too far ahead of themselves. I'm in wait and see mode myself.
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