PC World's Techlog - Well, Maybe No Google PayPal Killer After All

"All that speculation earlier this week about a PayPal-like service from Google may have been off the mark. Google CEO Eric Schmidt is saying that the company isn't working on a 'person-to-person stored-value payments system,' which likely means that anything in the works won't be a direct PayPal rival. But Schmidt did refer to 'the payment services we are working on,' so it sounds like Google does indeed plan to get into the e-payment game one way or another. Stay tuned..."