Recent reports from the Seattle Times and the USA Today indicates that Google is planning for an online payment service. Major player Paypal of eBay is the primary target. Details of the plan are not up yet but it is most certain that the service will be rolled out sometime at the end of the year.
With Google’s $1.26 billion revenue for the 1st quarter of this year, I’m sure they’re gonna hit big time with the online payment system considering a lot of publishers and advertisers could very well be using this service once it’s made available.
Update (6/21/05) : Google owns GoogleBucks.com, the plot thickens.
[...] Rumors claim that Google Wallet will not go against payment processor Paypal of eBay but will primarily serve as a channel to process transactions made thru Google Adwords and AdSense. [...]
[...] This rumor has been going around since June when I first posted it last June about initial reports of a potential payment gateway by Google. [...]