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PayPal and eBay sue Google for theft of trade secrets

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EBay and its subsidiary PayPal online payments recorded a lawsuit against Google on Thursday (26) alleging that the Internet giant stole its trade secrets when it hired a key executive of the company.

The suit alleges that Osama Bedier, a former senior executive of PayPal who worked in the area of ??mobile payments, the company’s trade secrets away when he started working at Google in early 2011.

According to eBay, PayPal and Google worked closely for three years in the development of a commercial agreement under which PayPal would serve as a payment option for Android phones.

“When PayPal was finalizing negotiations with Android, Bedier was interviewed for a position in Google without informing PayPal about this,” the action.

The vice-president of Google Tilenius Stephanie, also a former executive of PayPal, is accused of having breached its contract with eBay to have recruited Bedier. The lawsuit also alleges that Bedier tried to recruit other former PayPal colleagues

The two executives, Bedier and Stephanie, have run on Thursday (26) the launch of the mobile payment system from Google, in partnership with MasterCard, Citigroup and mobile operator Sprint.


 

Upcoming changes to PayPal User Agreement for India

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Today i just got this mail from paypal.com

Dear User,

As part of our commitment to provide a high level of customer service, we would like to give you a 30-day advance notice on changes to our user agreement for India.

With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways (“RBI Guidelines”).

In order to comply with the RBI Guidelines, our user agreement in India will be amended for the following services as follows:

  1. Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and
  2. Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.

We seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner.

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