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May. 2, 2012 03:40 PM EDT
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XML News Desk Bye-Bye PayPal? Google To Launch Online Payment Service
Wall Street Journal Rumors Reported Worldwide
By: Jeremy Geelan
Jun. 19, 2005 04:45 AM
Google isn't commenting. Yet. But analysts immediately began speculating what the impact on eBay might be, since PayPal brought the company 23% of its revenue during the first quarter of this year. That's a $233.1M revenue stream that would possibly be halved, or The Wall Street Journal report included the following: "For Google, based in Mountain View, Calif., a payment service could represent a significant expansion beyond online advertising, which generated 99 percent of its $3.2 billion in revenue last year."The Journal reported that rumors about such a new payment service being something Google is planning arose from a panel discussion at a Piper Jaffray Internet conference on Thursday.
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The Wall Street Journal reported it first, then Reuters and The Associated Press picked up on the possibility: what if Google is about to eclipse PapPal by introducing its very own online payment service? 
worse, if Google entered the arena. 
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