GoogleBuy is Google's 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 last nine months, 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.
However, Jack Schofield of Guardian is not impressed
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 last nine months, 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.
However, Jack Schofield of Guardian is not impressed
Having uninstalled Google's bloated Desktop Sidebar and the flaky Toolbar 4 beta - and looked at Google Base, the bodged Google Pack and the awful Google Video - I have diminishing faith in Google's ability to deliver software that is intelligently designed and works reliably.Source: PayPal Prepares For a Challenge From Google | Google's Gbuy to take on PayPal?