Michael Cooney
Senior Editor

Google: We’re not out to crush PayPal

Opinion
Jun 22, 20051 min

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Google is continuing its march toward world domination, but CEO Eric Schmidt says the company’s recently announced electronic payment project is not gunning for market-leader PayPal.

“We do not intend to offer a person-to-person, stored-value payments system,” Schmidt said during an interview with The Associated Press.

Ah, ha, ha, ha! That’s a good one, Eric. (Ed. – We think he’s serious.) No way, really?

“The payment services we are working on are a natural evolution of Google’s existing online products and advertising programs which today connect millions of consumers and advertisers,” Schmidt said.

That’s followed by our favorite sentence: “He declined to elaborate.”

Via My Way News