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Paypal Sues Google For Stolen Trade Secrets

Google announced their new mobile payment system, based on NFC technologies that allows cellphone users to tap their phone to pay for things. People call it a mobile e-wallet because you no longer have to whip out your wallet, unfold it, and look for the appropriate tender. Instead, users just need to tap their phone to a mobile e-reader and the credit card is charged automatically. It’s faster, more efficient, and more fun to use.

Sounds like a dream come true, right? Well it looks like Paypal isn’t too happy about Google’s big announcement as they are filing a lawsuit against Google in California Superior Court. Claiming that a former PayPal exec (and now Google employee) leaked certain trade secrets. Although we do not have any solid information that PayPal is suing over NFC technology, the timing is impeccable. I mean, I haven’t heard of Paypal suing Google, ever. Yet the lawsuit comes just a day after Google announces its mobile payment system?

Could it be that Paypal do not keep up with current events and didn’t realize that Google was developing NFC for quite some time? Or was Paypal planning an attack against Google all along and were just waiting for Google to officially release the near-fields communications technology? We will find out soon enough, I am sure.

Photo Courtesy of SamC
Photo Courtesy of ecyrd