Google in the Paypal way ...

Today I read about Google’s plan to foray into the payments market and compete with Paypal. It’s an anticipated move. Payments platform is very lucrative and my feel is that one day Paypal may surpass ebay. Now Google’s foray is certainly a setback for paypal. But we can look this in another way. Though paypal has a good presence in the online payments market, still there are a lot of avenues that are yet to be explored in online payments. There is a need for creativity to create new payment avenues. So Google can as well complement paypal rather than collide head-on with it.

Though Paypal has gone international, it is still focusing only on few countries. Take India … I struggled a lot to explain about paypal to a landmark (bookstore) employee for getting a book on paypal. It shouldn’t take that much time to explain Google wallet. And paypal alone cannot satisfy all the growing avenues in payments and they cannot take the responsibility of educating customers about each and every payment avenue. Paypal desperately needs competition and Google should fit right there.