PayPal Prepares For A Challenge From Google
Mylene Mangalindan reports for the Wall St. Journal on how PayPal CEO Jeff Jordan has prepared for the potential launch of a new Internet payment service by Google reportedly named Gbuy.
Mr. Jordan has been marshalling his forces for a possible battle with Google. He and his team have run through competitive scenarios to assess the risks PayPal might face with a Google service, an exercise the company also runs through with other rivals. Mr. Jordan also accelerated the development of some products to stretch PayPal's lead in online payments and increased product-development spending by as much as fourfold in some areas.eBay instituted a new "Safe Payments Policy" beginning January 15 which may help ensure that PayPal's eBay-related payment volume is protected from new entrants. Ina Steiner from AuctionBytes adds her commentary to this story.
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