PayPal to Shift Its Business to Google Cloud Services

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Alphabet Inc’s Google is close to winning PayPal Holdings Inc as a client for its cloud business, potentially beating out Amazon.com Inc and Microsoft Corp. While Google is the front-runner, the online payments processor is assessing the other providers and hasn’t made any decision yet, CNBC reported, citing people familiar with the matter. However, PayPal may not move its technology infrastructure in the fourth quarter, the peak period for online commerce, CNBC said.

PayPal has some existing business with Amazon Web Services, according to the CNBC report. Google has been trying to beef up its presence in cloud computing, a market conquered by Amazon and Microsoft. Google landed Home Depot Inc as a client in March, highlighting the momentum its cloud business has gained under the leadership of Diane Greene, a co-founder of VMWare Inc. Greene joined Google late last year.