Google Hires PayPal Veteran To Make A New Crypto Direction in 2022
Google has hired former PayPal Executive Arnold Goldberg to run its payments division and set a new direction for the business.
Bill Ready, PayPal’s former Chief Operating Officer, joined Google in 2019 and took over as head of the company’s payments division last year. He employed Goldberg, who previously ran PayPal’s merchant business, as a Vice President and General Manager of Google’s payments and Google’s “Next Billion Users” project.
This move is a part of a company-wide push into financial services, including cryptocurrency. “Crypto is something we pay a lot of attention to […] As user demand and merchant demand evolves, we’ll evolve with it,” Bill stated.
Google Pay is an online payment system that allows in-app, online, and contactless purchases on mobile devices.
This digital payment firm announced a collaboration with the worldwide cryptocurrency exchange Gemini in April 2021. The upgrade enabled Gemini users to purchase Bitcoin using fiat currency on a debit or credit card.
In June, this tech firm also worked with Coinbase, allowing Coinbase clients to pay for goods and services through Google Pay using their Coinbase Card. Users might also get crypto rebates of up to 4% for their purchases.
In October, Google pay had a partnership with the crypto exchange Bakkt and it enabled Bakkt users to purchase goods and services using chosen cryptocurrencies via their Google Pay wallets.
In the past, Google had been developing a digital checking and savings service named “Plex” for years and had lined up 11 banking partners for the launch. However, this tech giant shut down this service in October.
“We’re not a bank – we have no intention of being a bank,” Bill Ready said in an interview. “Some past efforts, at times, would unwittingly wade into those spaces.”
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