Google and Electronic Payments

The NY Times states that Google is expected to introduce an electronic payment system obviating the need for a credit card. This is a major game changer.This moves the one trick pony to full circus status.

1. Search is well done and a winner via advertising.

2. Android, the embodiment of the G phone, was also well executed thanks in part to Apple who closed their system.

3. If this works watch the credit card companies take a head dive. The real question is where is American Express, the initial entrepreneur into card services. If this works it may very well be a big hit on American Express, the ever decreasing player in this market.

I remember in the early 80s when I was at Warner and we deployed the first video on demand system for transactions over cable. The American Express executives kept asking "How do you make money on this?" Perhaps Google will not show them the hard way.