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Feb 28, 2006 -- Google launches rival to PayPal

Google has been a huge success in the Internet market and it is now branching out into yet another industry. You may have heard of PayPal. The eBay owned company has had the electronic payment market to itself. And, as a result, it has been able to treat customers in a mostly poor manner. But that’s all about to change. Google is now stepping into the ring and is offering a FREE electronic payment program. It’s called “Google Accounts” and it’s only available in test form and in certain markets. It will be available to people who use “Google Base,” the company’s equivalent and competitor to Craigslist, the online local marketplace that is partially owned by eBay. So, it’s a great alternative if you’re doing lots of online transactions and are either paying a lot or getting bad customer service from PayPal. Just remember that if you decide to use Google Accounts, there is no fraud protection at all. This would be the time for PayPal to step in and offer real service and protection for its customers. We’ll see what happens.

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Do you like the idea of auto insurers switching to a pay-as-you-drive model -- where how, when and where you drive may be monitored?
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