Google has hired former PayPal executive Arnold Goldberg to help oversee its move into financial services.
Sources reported by Bloomberg said the hire was part of a broader move into financial services by the BigTech giant, including the cryptocurrency space.
Bill Ready, president of commerce at Google, told Bloomberg the BigTech giant seeks to become “the connective tissue for the entire consumer finance industry” and “not just certain partners”.
Ready said that Google is working to add more payment features for its search and shopping service and said there are no plans to introduce fees on transactions using its mobile wallet, Google Pay.
The executive also told the news outlet that it wants to help show consumers “the entire array of financial services out there”.
In addition, Ready said that the BigTech firm is looking to do more partnerships within the cryptocurrency space.
Google first ventured into the payments space in 2011 with Google Wallet.
The BigTech’s digital wallet, Google Pay, is currently available in 42 countries.
“Crypto is something we pay a lot of attention to,” Ready told Bloomberg. “As user demand and merchant demand evolves, we’ll evolve with it.”
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