Google's Wallet service has no official confirmation but has been blamed for a two per cent fall in eBay's share price this morning - eBay owns PayPal. A spokeswoman at Google UK was unable to comment at press time.
The New York Times spoke to a leading online merchant, who insisted on anonymity, who told the paper he'd been appraoched by Google about the new service.
The paper also quoted Scot Wingo, chief exec of ChannelAdvisor, a consultancy for etailers, who said he had heard about the service from clients. A spokeswoman for PayPal told the NYT that she'd heard the rumours too but had no other comment.®
I actually think its good news. PayPal is lousy.