Google moves deeper into PayPal territory

May 4, 2010: 11:06 AM ET

Investment in payments provider Corduro would add service options to Google's Checkout system and extend Google's reach to retailers and micro-transactions.

Google updated its Ventures page last night to reveal several new investments in technology companies.  One such investment is in online payment services company, Corduro.

Corduro's website advertises its expertise in: "Payment solutions for retail stores, teams & clubs, education costs, property management, mobile solutions, healthcare cost, fraternities & sororities, collections, and any where else transactions are made."

Robert Ziegler, CEO of Corduro was unsurprisingly smitten with Google Ventures' help.  "We were blown away by the enthusiasm, talent, and opportunities that Google (GOOG) Ventures has brought to Corduro; all entrepreneurs should be afforded such passion and engagement from their capital partner," said Ziegler.

Cordero helps Google enter the credit card transaction space above and beyond Google's own Checkout product.  Competitors in this space are obviously eBay-owned Paypal (EBAY) and possibly  Apple (AAPL), who've "been eyeing Vivotech", a competing firm.

EBay is down nearly 5% this morning.

Developers such as Square have created systems that turn the iPhone and iPad into point-of-sales systems.

Corduro also lists FutureX hardware data encryption and security solutions as a partner

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Seth Weintraub
Seth Weintraub

Google went from searching the Web to worming its way into nearly every facet of business and government. Seth Weintraub unveils where the company is going, who it's competing with, who it's about to compete with and how market forces push the company to veer or adhere to its Don't Be Evil motto. For 15 years, Weintraub was a global IT director for a number of companies before becoming a blogger.

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