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Monday, May 2, 2011

It Begins: Google Wallet, The Rumor In 2005

In 2005, the Wall Street Journal posted an article about Google creating an online payment system, to diversify their revenue stream. The article indicated that the new Google system would be something very similar to Ebay's PayPal. As you know, PayPal offers the ability to share an individual's account for payments, without the need for any additional information. PayPal generates a large portion of Ebay's revenue stream, predicting to make around $7 Billion in 2013. Obviously, Google will have to differentiate itself from PayPal... but how?

Additionally, the leak also describes that this new Google payment system will be named "Google Wallet". Thus, A new dawn to the revolution in online payment begins.

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Will Google Wallet Fail?

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