We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Google plans rival for PayPal

Newspapers predict new online payment service

Google is preparing to launch an online payment system that might compete with eBay's PayPal, according to newspaper reports.

The chief executive of an unnamed online retailer said it had been approached by Google to take part in the service, according to The New York Times.

The idea was also discussed last Thursday at a conference for analysts hosted by investment advisor Piper Jaffray, according to an earlier report in The Wall Street Journal.

No other details about the proposed service were published. Google could not be reached for comment.

The move would give Google the chance to diversify its revenue stream, according to the reports.

Google's main source of revenue is selling advertisements that appear next to search results and on its Froogle price comparison website.

The company reported a net income of $369m (£202m) for the three months ending 31 March, nearly six times the income for the same period the previous year, on surging advertising revenues. Revenue for the three months to 31 March was $3bn (£1.6bn), up 93 percent on the same period in 2004.


IDG UK Sites

Best camera phone of 2015: iPhone 6 Plus vs LG G4 vs Galaxy S6 vs One M9 vs Nexus 6

IDG UK Sites

In defence of BlackBerrys

IDG UK Sites

Why we should reserve judgement on Apple ditching Helvetica in OS X/iOS for the Apple Watch's San...

IDG UK Sites

Retina 3.3GHz iMac 27in preview: Apple cuts £400 of price of Retina iMac with new model