Paypal Files Lawsuit over Google Wallet

Google has launched a new android application for cellular phone, Google Wallet. It makes your Smartphone a virtual wallet where you can keep a virtual version of your plastic cards or credit cards. The Google Wallet supports:

• Citi® MasterCard®
• the Google Prepaid Card
• gift cards at participating merchants

For android phone users, this is an exciting turn of technology. Imagine how trade and commerce particularly payment facility has evolved from gold and silver coins, to paper bills then plastic cards, now cellular phones using NFC (near field communication). I can sense the beginning of a paperless society in the decades to come.

However, Paypal, a leading e-commerce payment facility, files a lawsuit over Google Wallet. According to a report, Paypal claims that Google Wallet Service is the byproduct of intellectual theft and betrayal.

Osama Bedier c/o Techcrunch

Paypal claims that Google has hired Osama Bedier as vice president of payments, primarily to obtain Paypal’s trade secrets regarding its mobile payment strategy for putting up Google Wallet. Osama Bedier has worked for Paypal for nine years.

According to Paypal, “Sometimes the behaviors of people and competitors make legal action the only meaningful way for a company to protect one of its most valuable assets — its trade secrets."

Google says that it respect trade secrets and will defend itself from Paypal’s claims.

Images above courtesy of:

google.com/wallet

techcrunch.com/2011/05/26/