PayPal To Google: Bring It On

PayPal President Jeff Jordan said his company is ready and waiting for any competing payment services that Google may launch. The GBuy system is supposed to come out on June 28, according to a note from RBC analyst Jordan Rohan.

Rohan, the same person who gained knowledge of the release date. Rohan also said that GBuy is going to concentrate only on consumer-to-merchant transactions as it is launched. But he notes that it could be expanded to include consumer-to-consumer transactions at some point in the future. PayPal's CEO remained unconcerned. "We think we're pretty good at it and have a pretty strong lead," he said, referring to online payment services. PayPal was founded in December of 1998, and eBay's use of it has made it the dominant leader in the market. GBuy could change that, however. Add to document.write("Del.icio.us") | Yahoo! My Web Technorati: Doug is a staff writer for Murdok for the latest eBusiness news.