What a fascinating news !!

On Friday, June 17, 2005, the Wall Street Journal reported Google Inc. plans to offer an electronic-payment service which similar to PayPal service. This could definitely help the Search Engine Giant to diversify its revenue and may heighten competition with eBay Inc.’s PayPal unit.

The new google service will be expected to allow consumers to pay for purchases on Web sites by funding electronic-payment accounts from their credit cards or checking accounts, though exact details of the search company’s planned service are not known yet.

Rumors about a new Google payment service escalated following a panel discussion at a Piper Jaffray Internet conference on Thursday, June 16, 2005. Scot Wingo, chief executive of ChannelAdvisor, a Morrisville, N.C. e-commerce consulting firm believed the payment service would be launched soon. However, a Google spokesperson contacted by Reuters declined comment on this news.

Anyway, I really look forward to this new service from Google. It will certainly open up more opportunities in generating revenue through the Internet from e-transactions, besides helping us transfering money on the Internet with ease.

Cheers !!