Google Ropes In Former PayPal Executive For Payments Division: Report

Alphabet Inc's GOOG GOOGL Google hired former PayPal Holdings Inc (NASDAQ: PYPL) executive Arnold Goldberg to run its payments division, Bloomberg reports.
The hiring is a part of Google's broader strategy to team up with a broader range of financial services, including cryptocurrencies, the report quoted Bill Ready, Google's President of commerce.
Ready, PayPal's former COO, joined Google in 2019 and recruited Goldberg, who ran PayPal's merchant business, to become the VP for the payments and emerging market efforts.
Google wants to become the connective tissue for the entire consumer finance industry, not just certain partners, according to Ready.
Google looks to add more payment features within search and its shopping service. That will help show users "the entire array of financial services out there," Ready said.
Tiptoeing into crypto also could help Google entice users, the report noted.
Goldberg, Ready's new deputy, is stepping into a role vacated by Caesar Sengupta, a longtime Google manager. Sengupta has formed a new fintech company, Arbo Works, and hired several others from Google's payments team.
Price Action: GOOGL shares traded higher by 1.25% at $2,753.90 on the last check Wednesday.