Wednesday, November 15, 2006

GBuy - Google's very own online payment system

GoogleBuy is Google's very own Internet-payment service like Paypal.

Google has earlier offered hints that it might set up an online-payment service. The WSJ now confirms that Google is actually developing a Paypal rival service called GBuy (GoogleBuy).

For the past some time, Google has recruited online retailers to test GoogleBuy. GBuy will feature an icon posted alongside the paid-search ads of merchants, which Google hopes will tempt consumers to click on the ads. GBuy will also let consumers store their credit-card information on Google.

Google said that it has acknowledged publicly on many occasions that it is working on payment products. The company also said it already processes online payments for ad services, as well as fees from consumers who use features such as Google Store and Google Earth.

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