Linked by Thom Holwerda on Fri 27th May 2011 21:50 UTC, submitted by sawboss
Legal Ding ding ding ding - I think we have a record here. Launched yesterday, Google Wallet has already attracted a lawsuit. While patent lawsuits are teh shizzle these days, this lawsuit is a little different, so sadly I can't trot out my usual 'software patents bad' lines (aww). PayPal has sued Google over its Wallet service, claiming that one key former PayPal executive who accepted a job at Google took trade secrets with him.
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RE[2]: this has upset the plan
by JAlexoid on Sun 29th May 2011 11:06 UTC in reply to "RE: this has upset the plan"
JAlexoid
Member since:
2009-05-19

While I agree with you, Paypal is not a bank and is not subject to the banking rules.

With all the shenanigans going on with Western Union, now Paypal, I can see the same nonsense happening with Google. These money transfer services need to fall under the same rules as the credit card companies.

Western Union and Paypal are used in too many scams, with zero consumer protection. What makes you think Google Wallet will be any better?

In Luxembourg PayPal is in the banking institution registry. Therefore I trust PayPal more than Google Checkout(which is 100% US based)
"Commencing 2 July 2007, as PayPal (Europe) S.à r.l. & Cie, S.C.A., PayPal moved its European operations from the UK to Luxembourg. As a Luxembourg entity, it is since regulated as a bank by the Commission de Surveillance du Secteur Financier (CSSF) and provides PayPal service throughout the European Union."

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