Google has hired former PayPal chief executive Arnold Goldberg to run the payments division and set the company’s new course. This is reported Bloomberg.
Google Commercial President Bill Ready spoke about the connection of the appointment with the company’s broader strategy to integrate with a number of financial services, including cryptocurrencies.
He also announced the addition of additional payment features to the search engine and shopping service to offer users a full range of financial services.
“We are not a bank, we have no intention of becoming a bank. […] Our goal is to help create connections, we are not a conflicting party,” Redi explained.
According to Bloomberg, Google has spent years developing a digital checking and savings service and has agreed with 11 banking partners to launch.
In October, the company allegedly canceled the initiative in a bid to become a nexus for the entire consumer finance industry.
Recall that in August 2021, Google allowed to promote the services of cryptocurrency exchanges and digital wallets for users in the United States through its advertising services. The decision to ban was made in June 2018.