Alphabet Inc.’s Google (NASDAQ:), which began dipping its toes into the crypto space in 2020, has continued its push into the crypto industry, announcing the hire of former PayPal (NASDAQ:) executive Arnold Goldberg.

Arnold Goldberg will be heading the payments division at the tech titans. He was previously the chief product architect, general manager, and head of PayPal.

Google Expands its Payment Services

According to Bill Ready, Google’s President of Commerce, the hire of Paypal’s vet falls into its plans of pushing into financial services, including cryptocurrencies. Google hopes to restart its plans for payment and banking through this hiring.

Google’s online payment system, Google Pay, allows in-app, online, and contactless purchases on mobile devices. However, Google now looks to focus more on being a “comprehensive digital wallet.”

In expanding its Google pay services, the tech giant is working with Indifi Technologies – an Indian online lender – to offer instant loans to small merchants through the Google Pay app.

In line with its push for offering greater financial services, Google has partnered with America’s leading crypto exchange, Coinbase (NASDAQ:). Google is also exploring blockchain technology and has created a division for distributed computing and blockchain in line with a similar trend.

The Flipside

• Google, despite pushing into cryptography, has ended its search to be a member of the banking community and stated that it does not intend to become a bank.

What You Need to Care About

Bill Ready says that crypto is something Google should pay attention to. It will continue to evolve as users and merchants require crypto services.

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