The tech big has employed a PayPal veteran to assist with the expansion of Google Pay because it sets its sights on the longer term, as well as plans to explore crypto.
Google has employed a former PayPal govt to assist bolster Google Pay, with plans to expand into the crypto house.
Arnold Goldberg has been given the task of running Google’s payments division as a part of a company-wide push into monetary services, including crypto. Google’s president of commerce Bill ready told Bloomberg that:
“Crypto is something we pay a lot of attention to [...] As user demand and merchant demand evolves, we’ll evolve with it.”
Google Pay is a web payment system developed by Google to permit in-app, on-line and contactless purchases on mobile devices as well as android phones, tablets and watches.
As a part of the overhaul, Google can focus additional on being a “comprehensive digital wallet” that has digital tickets, airline passes and immunizing agent passports, Ready said.
Following the news, the worth of Bitcoin (BTC) spiked to a high of $42,478 (from a 24-hour low of $41,254) before falling backtrack to $41,887 at the time of writing per Coinmarketcap.
Google has been dipping its toes within the crypto area for quite it slow, partnering with many crypto corporations through 2021. prepared said that the corporate plans to pursue additional partnerships with additional crypto corporations.
In April 2021, Google Pay proclaimed a replacement partnership with world crypto exchange Gemini. The update allowed Gemini users to get Bitcoin through Google Pay exploitation order currency on a debit or mastercard.
The school large conjointly partnered with Coinbase in June, allowing customers of the exchange to pay money for merchandise and services through Google Pay exploitation their Coinbase Card. Users conjointly were able to gain crypto rebates of up to four-dimensional for their searching.
In Oct, a partnership between crypto exchange Bakkt and Google allowed customers of the exchange to get goods and services exploitation some choose cryptocurrencies through their Google Pay wallet.
As for Paypal, it seems that the fintech company are one man down because it explores the creation of its own stablecoin. Earlier this month, Paypal confirmed plans to launch “PayPal Coin,” that developer Steve Moser 1st found within the source code of the platform’s iPhone app.
( Keira Wright, Cointelegraph, 2022)