Yesterday (June 29), Google launched a highly anticipated online payment service aimed at boosting online shopping activities.
With the new payment service – Checkout (not Gbuy as previously planned), Google hopes that online shopping will become significantly more convenient, and it also presents an opportunity for online advertisers to invest in this world-famous search engine.
Google also aims to gain a larger market share in the e-commerce sector, standing alongside other major competitors such as eBay, which currently leads the online payment service market with PayPal.
An eBay spokesperson declined to comment on Google’s new service but expressed concerns regarding Google’s expansion decision made last month, when the company announced a partnership with Yahoo in the online payment space.
Google began testing the online payment service called “Checkout” about a year ago. This service will function as a digital wallet, allowing customers to purchase products and services from online merchants without needing to fill in personal and financial information.
