OK, so CEO Eric Schmidt says that Google is not building a PayPal competitor after all. In fact, it's apparently much more -- or perhaps much less -- than that:"Although he declined to provide any details about the project, Schmidt made it clear it won't trespass on PayPal's turf.
"We do not intend to offer a person-to-person, stored-value payments system," Schmidt said during an interview with The Associated Press."
He also said:"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," Schmidt said. He declined to elaborate."
I think what he's saying is that what Google has planned is "way cooler than PayPal, dude. Like, oh yeah."
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Posted by Cory Kleinschmidt
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