eBay to Face Challenge from Google?
According to Industry sources, Google is expected to introduce electronic payment services during 2005. The service is apparently code-named “Google Wallet” and is said to be somewhat similar to eBay’s PayPal.
Google has not yet gone public with functional details of the rumoured e-payments system, but it seems probable that there could be similarities with PayPal in terms of people being able to make secure internet purchases using credit cards or bank accounts to fund their “Google Wallet” accounts.
eBay made over $200 million revenue during Q105 from PayPal, so this segment of the market would seem a sensible and attractive area for Google to move into, especially if the world’s leading Search Engine company is also moving into classified advertising, as other industry pundits expect.
Google’s existing and well-established AdWords and AdSense services are aimed primarily at the business sector, but it would seem a logical progression to add Classified Ads for the general public. If this is actually the case, then “Google Wallet” would be the ideal accompaniment to “Google Classified” and this would indeed provide competition for eBay auctions UK as well as eBay.com on a global basis.
Google has not yet gone public with functional details of the rumoured e-payments system, but it seems probable that there could be similarities with PayPal in terms of people being able to make secure internet purchases using credit cards or bank accounts to fund their “Google Wallet” accounts.
eBay made over $200 million revenue during Q105 from PayPal, so this segment of the market would seem a sensible and attractive area for Google to move into, especially if the world’s leading Search Engine company is also moving into classified advertising, as other industry pundits expect.
Google’s existing and well-established AdWords and AdSense services are aimed primarily at the business sector, but it would seem a logical progression to add Classified Ads for the general public. If this is actually the case, then “Google Wallet” would be the ideal accompaniment to “Google Classified” and this would indeed provide competition for eBay auctions UK as well as eBay.com on a global basis.
