It’s quite obvious now that eBay is feeling pressure coming from the headquarters of Google. Last May Google announced that they themselves are going to come out with an online payment system such as eBay owned PayPal. Within moments of learning about it, PayPal president Jeff Jordan has started to monitor any talks and chats related to the one project that could dethrone them from their King of Online Payment Systems status.

While Google Chief Executive Eric Schmidt confirmed in press accounts that the company was building a payment service, Mr. Schmidt also denied it would directly compete with PayPal. Mr. Schmidt said Google didn’t intend to offer a “person-to-person, stored-value payments system,” which many people consider a description of PayPal’s service.

Mr. Jordan says he and his team immediately “dissected the wording” of Google’s statements. He says he doesn’t believe Mr. Schmidt..

This is just an example of the cat and mouse game that is being played now.
I believe that PayPal will be under a lot of pressure to improve its service. About time! There have been countless cases of PayPal taking it upon themselves to reverse online transactions without further proof on who was right, the buyer or the seller, causing distress and headaches to countless merchant being obligated to take matters into their own hand to legally fight for and receive monetary justice after being defrauded by those abusing paypal and its way to lose policies regarding refunds and their self given right to draw funds out of their clients’ bank accounts anytime that they please.

PayPal is finally getting some competition and I myself can’t wait to see some serious improvements on PayPal’s part as well as a new system that will hopefully give us a great alternative from day one.

PayPal has done a lot of good, but it’s not very healthy to corner a market that should be much more saturated.

Also, having a payment system run by Google, will make it a lot easier for Google Adsense advertisers to receive their funds rather than how things are currently set up.

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