PayPal says that it is ready and waiting for any competion from Google GBuy launch. The Google GBuy system is supposed to come out in June.

"We respect their entry and stand ready to compete," Jeff Jordan stated. He noted that PayPal has had many competitors in the past, and has weathered those challengers well enough. There are currently about 105 million user accounts with the company, which represents a 47 percent increase from the same period last year. And PayPal's total payment volume is up 41 percent for the same timespan, to its current level of $8.8 billion.

Googles GBuy can compete in pricing as average transaction price to sellers on PayPal is 3.5 percent where as GBuy is expected to be offering no transaction free for an initial period, and eventually charge anywhere from 1.5 percent to 2 percent.

PayPals CEO remained unconcerned. "We think we are pretty good at it and have a pretty strong lead," he said, referring to online payment services.

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