Gbuy-Ing The New Payment System?

Published: Sunday, June 18, 2006 Online-Casinos.com

GBUY-ING THE NEW PAYMENT SYSTEM?

Giant information site Google likely to launch major online payment service soon

The rumours have been growing steadily since February this year: giant information site Google is about to enter the online payment services industry with a venture that is likely to rival the likes of PayPal in size and scope.

According to articles in Forbes.com and even he venerable Wall Street Journal, Google is readying such a service. Known as GBuy, the payment service will launch June 28, Forbes says. According to the report, it won't be a direct PayPal competitor; instead, e-shoppers will be taken off the merchant's site - and on to the Google site - to complete their payment.

Rumours also abound that Google plans to tie-in its own online payment features to Google Base, thus transforming Base into even more of an online market place a la eBay or Amazon. Base users, at an undisclosed future date, will apparently be able to buy items on Google Base using their Google Accounts

One simple implementation of GBuy could be as the transaction mechanism woven into AdWords revenue and AdSense payout. But the most significant concept could be Google transforming Froogle and/or Google Catalogs from a window-shopping platform to a true shopping platform with efficient shopping cart and cashier facilities.

Google could be the force majeur to tie it all together into a killer merchant app, especially for selling virtual products such as music files and e-documents.