PayPal under threat from rival Google system

20 Jun 2005

PayPal, the online payment network, has seen off many challengers in its short existence and remains the dominant player in the field, but it may be about to take on its biggest competitor yet. If Wall Street Journal reports are to be believed, Google is about to diversify into PayPal's territory.

PayPal is most commonly used as a payment mechanism by users of eBay, allowing two people to exchange funds without giving away any personal details.

The Google system, about which virtually nothing is known, would probably run along similar lines. Google has recently begun to start looking for alternative revenue streams to complement its search advertising business.

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