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Google Hires PayPal Vet to Reset Strategy After Its Banking Retreat

  • Arnold Goldberg joins fellow PayPal alum Bill Ready at Google
  • Company sees potential in loyalty programs, crypto cards
     

     

Photographer: Gabby Jones/Bloomberg

Alphabet Inc.’s Google has hired former PayPal Holdings Inc. executive Arnold Goldberg to run its payments division and set a new course for the business after it scrapped a push into banking.

The move is part of a broader strategy to team up with a wider range of financial services, including cryptocurrencies, said Bill Ready, Google’s president of commerce. The business, known for the Google Pay system and mobile wallet, has largely avoided the crypto industry.