CNET News reports that Google is expected to announce its new payment network this week, directly challenging PayPal. Rumers have been circulating for months culminating in a storm of buzz this week.
Excerpted from CNET:
What's new
Google is expected to announce a new online payment system this week, dubbed Gbuy.
Bottom line
If
it actually comes to pass, the rumored payment system would compete
with PayPal and enable Web surfers to use micropayments to purchase
everything from retail goods to individual bits of Web content. It
could also threaten some well-established financial institutions,
allowing people to fund a "Google wallet" directly from their bank
account and sidestep credit card charges. Merchants, too, could avoid
the 3 percent they pay to Visa and others.
Open your wallet to Google
By Elinor Mills
Staff Writer, CNET News.com
Published: June 28, 2006, 4:00 AM PDT
Plus this article at TheStreet.com:
eBay Hears Footsteps
By Jonathan Berr
TheStreet.com Senior Writer
6/27/2006 3:56 PM EDT
During her time at Glenbrook, Erin focused on client engagements in business payments, cross-border transactions, bill payment, and the intersection of corporate finance, banking, and ERP/accounting. She has nearly twenty years of experience leading increasingly complex payment initiatives for corporate clients and advising financial institutions and payment technologists on the development of their payment capabilities.
Erin is also the founder of Forte Financial, a consulting firm focused on corporate finance efficiency, technology, and process improvement. She is a past president of the Financial Women’s Association of San Francisco and also a two-term past president of the San Francisco Treasury Management Association. Erin is no longer with Glenbrook, but contributed greatly during her time at the firm.