Google is preparing an online-payment system that would compete with PayPal, according to an online retailer who has been approached by Google to take part in the effort. You can see the entire article courtesy of CNET News.com. Does this mean PayPal may be in trouble? I know it can't help them much with the fact that there is now a ton of false PayPal e-mails circulating the net falsely informing people to update their account info. I've forwarded two such e-mails to firstname.lastname@example.org and they confirmed within minutes that they were both false and are currently investigating the matter.