As if Google didn’t have enough cash on hand, the world’s ubiquitous search brand now wants to put its hands in our wallets—virtual wallets, that is. Launched this summer, Google Checkout is an online payment system that seems on the surface to challenge eBay subsidiary PayPal as the cyber-cashier of choice online. But as with most things Google, all you need to do is scratch the surface of this new experiment to find a cagey vision and business plan that could change the way we buy things online.
No Killer . . .
Soon after signing up for a Google Checkout account, it’s apparent that this is no PayPal killer. Much like any ecommerce checkout, Google takes your personal shipping information and keeps your credit card on file. From there, participating vendors such as Starbucks and Jockey now let you pay for items at their online store by simply signing into your Google Checkout account at their checkout screens. Google provides the buyer with security and convenience because he only enters his credit card information once with Google, which then makes the payment to the vendor. The user doesn’t have to re-enter the same personal information and spread his credit card number across countless companies online. Google not only shields your credit card information from the vendor but also can optionally shield your email identity, as well. And because the sellers must apply to Google to participate in the program, the search engine has a direct relationship with the stores, so Google is in a position to resolve any conflicts that might arise and police the system for fraud. Furthe....
