Google makes first foray into credit business

Google is getting into the credit business for the first time, with the launch of a programme in the UK to finance purchases of its online advertising by businesses.

The move marks the opening of a new front in the battle between the biggest internet companies, as they turn to their balance sheets as a source of competitive advantage. Amazon stated last week that it had begun making loans to independent sellers that offer their products on its marketplace, marking the online retailers first move into financial services.

This signals the companys first attempt to use its huge cash reserves to support its core search advertising business by subsidising low-interest rate credit lines... READ MORE

Released by the Financial Times - 8 October 2012