The objective of Google is not to create a payment solution. The objective of Google is to be able to address the issue that they’re having, which is the cost-per-click model is becoming less transparent of what benefit the advertiser is getting from that click. In the case of Google Wallet, they can say, ‘Well, that customer that browsed X and Y, I can confirm to you that they went and purchased your product and here’s the proof.’Startups and the bit of the banking model they’re after ↱
Bye Bye Banks?
How Retail Banks Are Being Displaced, Diminished and Disintermediated by Tech Startups and What They Can Do to Survive
James Haycock, Shane Richmond