Internet Giant Steps Into ElectronicPayments

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PALO ALTO, Calif. - (10/05/05) -- Internet search engine giant Googlesaid it has completed beta testing of its fledgling electronicfunds transfer service and is ready to unveil person-to-personpayments to its millions of regular customers. The company testedits EFT system with thousands of advertisers in 16 countries and isrolling out the new consumer service to compete with banks, creditunions and other P2P providers. Google is offering participants adiscount if they sign on other users.

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