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160th Anniversary of the First World's Fair and Google doodle today is special to remember it.

The main attractions at World's Fairs are the national pavilions, created by participating countries. At Expo 2000 Hannover, where countries created their own architecture, the average pavilion investment was around €13 million. Given these costs, governments are sometimes skeptical about participation as benefits are often assumed not to outweigh the costs. Tangible effects are difficult to measure; however, an independent study for the Dutch pavilion at Expo 2000 estimated the pavilion (which cost around €35 million) generated around €350 million of potential revenues for the Dutch economy. It also identified several key success factors for world exposition pavilions in general

PayPal is suing Google following today’s announcement of Google Wallet, claiming that former PayPal employees who worked on the project have violated their contractual obligations.

PayPal claims that former PayPal executive Osama Bedier shared trade secrets with Google, and that Stephanie Tilenius, also a former PayPal executive, violated her contract by enticing Bedier to jump ships.
Bloomberg quotes the complaint as saying that Bedier “is now leading Google’s efforts to bring point of sale technologies and services to retailers on its behalf. Bedier and Google have misappropriated PayPal trade secrets by disclosing them within Google and to major retailers.”

This news comes out just a day after PayPal director Anuj Nayar hit out at Square, a startup competitor, saying that it was superficial and not as revolutionary as proponents suggested. In that post I wondered whether PayPal is having a case of sour grapes or if they are offering valid criticisms. Today’s move makes it seem more like the former.

PayPal is suing Google following today’s announcement of Google Wallet, claiming that former PayPal employees who worked on the project have violated their contractual obligations.

PayPal claims that former PayPal executive Osama Bedier shared trade secrets with Google, and that Stephanie Tilenius, also a former PayPal executive, violated her contract by enticing Bedier to jump ships.
Bloomberg quotes the complaint as saying that Bedier “is now leading Google’s efforts to bring point of sale technologies and services to retailers on its behalf. Bedier and Google have misappropriated PayPal trade secrets by disclosing them within Google and to major retailers.”

This news comes out just a day after PayPal director Anuj Nayar hit out at Square, a startup competitor, saying that it was superficial and not as revolutionary as proponents suggested. In that post I wondered whether PayPal is having a case of sour grapes or if they are offering valid criticisms. Today’s move makes it seem more like the former.

Google unveiled a free mobile application on Thursday that turns a smartphone into an electronic wallet.

The Internet giant, at a press conference at its New York headquarters with financial partners Citibank and MasterCard and telecom ally Sprint, said "Google Wallet" is currently being field tested and will be available this summer.

Google Wallet will initially work with Google's Nexus S 4G smartphone from Sprint and will eventually be expanded to more Android phones.

Google Wallet uses a near field communication (NFC) chip embedded in a phone to allow a user to "tap-and-pay" for purchases at a checkout register equipped with the PayPass system from CitiMasterCard.
Customers can also use a Google Prepaid card to pay for purchases, topping up the Google card with any payment card, and take advantage of Google Offers, the Mountain View, California-based company's online discount coupon program.

Google said Google Wallet will be accepted at more than 124,000 merchants nationally at launch and more than 311,000 around the world.

NFC technology is being tested or used in a number of countries already, notably France, but Google Wallet will be the first to bring it to the United States on a potentially large scale.

Stephanie Tilenius, Google's vice president for commerce and payments, described Google Wallet as the "next generation of mobile commerce."

"We're building an open commerce ecosystem that for the first time will make it possible for you to pay with an NFC wallet and redeem consumer promotions all in one tap, while shopping offline," Tilenius said.

In addition to allowing for mobile payments, Google Wallet allows consumers to pay using gift cards and to redeem promotions such as discounts or coupons.

"Google Wallet will start with offers, loyalty and gift cards but some day items like receipts, boarding passes and tickets will all be seamlessly synced to your Google Wallet," Google said in a blog post.

Google said the field tests in New York and San Francisco involve a number of retailers including CVS pharmacy, fast food outlet Jack in the Box, sporting goods store Sports Authority and Sunoco gasoline stations.

Some Coca-Cola vending machines and taxis are also PayPass-enabled.

Google unveiled a free mobile application on Thursday that turns a smartphone into an electronic wallet.

The Internet giant, at a press conference at its New York headquarters with financial partners Citibank and MasterCard and telecom ally Sprint, said "Google Wallet" is currently being field tested and will be available this summer.

Google Wallet will initially work with Google's Nexus S 4G smartphone from Sprint and will eventually be expanded to more Android phones.

Google Wallet uses a near field communication (NFC) chip embedded in a phone to allow a user to "tap-and-pay" for purchases at a checkout register equipped with the PayPass system from CitiMasterCard.
Customers can also use a Google Prepaid card to pay for purchases, topping up the Google card with any payment card, and take advantage of Google Offers, the Mountain View, California-based company's online discount coupon program.

Google said Google Wallet will be accepted at more than 124,000 merchants nationally at launch and more than 311,000 around the world.

NFC technology is being tested or used in a number of countries already, notably France, but Google Wallet will be the first to bring it to the United States on a potentially large scale.

Stephanie Tilenius, Google's vice president for commerce and payments, described Google Wallet as the "next generation of mobile commerce."

"We're building an open commerce ecosystem that for the first time will make it possible for you to pay with an NFC wallet and redeem consumer promotions all in one tap, while shopping offline," Tilenius said.

In addition to allowing for mobile payments, Google Wallet allows consumers to pay using gift cards and to redeem promotions such as discounts or coupons.

"Google Wallet will start with offers, loyalty and gift cards but some day items like receipts, boarding passes and tickets will all be seamlessly synced to your Google Wallet," Google said in a blog post.

Google said the field tests in New York and San Francisco involve a number of retailers including CVS pharmacy, fast food outlet Jack in the Box, sporting goods store Sports Authority and Sunoco gasoline stations.

Some Coca-Cola vending machines and taxis are also PayPass-enabled.