Google is all set to debut its online payment system. "Google Checkout" will be a payment option at many of its partner merchants allowing shoppers to pay via Google Checkout.
"The new offering, referred to in news and analyst reports as GBuy or Google Wallet, promises online sellers an easy way to add a checkout to their sites and can be used in addition to other options such as PayPal or a merchant's own pay system.
Google said Checkout stores names, shipping and credit card information and eliminates the need for consumers to resubmit that data with each purchase. Google is responsible for processing the credit card payments and keeping data safe."
Google hopes it can convert a higher percentage of shoppers into buyers by showing its shopping cart icon next to its search results. It's a neat way of leveraging its user base, search prowess and will also boost its ad revenues.
Check it out.