Nah, he's not scared of Google. Not at all. Bring it on, says PayPal's chief executive Jeff Jordan in response to questioning about how eBay's payment service will compete with Google's rumored GBuy service.

Well, that's not exactly what he said. He actually said, "We respect their entry and stand ready to compete," according to this Dow Jones news story. He also admitted that eBay had heard that Google planned to launch a competing service to PayPal's.

In a note last Friday, Jordan Rohan of RBC Capital Markets put the date of June 28 on Google's GBuy launch, setting the blogosphere abuzz. (See our take on it, "Google's GBuy program could challenge eBay's Paypal.") Rohan says GBuy will focus on consumer-merchant transactions, not consumer-consumer, as PayPal does (but that could change easily). He also said Google probably wouldn't charge initially for its service.

Competing with a free Google service? No problem, right Jeff? Not at all.

eBay's PayPal is ready to rumble with Google's GBuy originally appeared on BloggingStocks on Wed, 14 Jun 2006 14:57:00 EST. Please see our terms for use of feeds.