Wednesday, June 22, 2005

Google does Paypal... Well not really but the idea's the same.

"SAN FRANCISCO (AP) - Google Inc. (GOOG) CEO Eric Schmidt on Tuesday denied recent media and analyst reports that the online search engine leader is gearing up to compete directly with eBay Inc. (EBAY)'s pioneering PayPal service, although he acknowledged some kind of electronic payment product is in the works."

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

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