Thursday, June 23, 2005
Google's payment serivce plans confirmed
Google CEO Eric Schmidt confirmed that Google was infact developing an online payment service: 
Schmidt said Google does not intend to offer a 'person-to-person stored-value payments system' like PayPal's, in which money briefly resides in PayPal's control during the transaction, but he did not give details of how the Google system would differ.He went on to elaborate further:
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...¶ 8:21 AM
