The big news for today: Google Checkout. There is an official announcement about the service on the Google Blog, complete with a 2 minute video touting Google Checkout features. This service has been expected for quite awhile (remember the rumors about Google Wallet?) and has been widely seen as competition for PayPal.
I think Google might finally be learning some lessons from Microsoft. First, they need add new services that generate non-ad based revenue. With a stock price of over $400 per share I expect to see more and more pressure applied to Google to generate A LOT MORE MONEY as time goes on. Second, leveraging new services with what you already have. Integrating the service with AdWords will provide a way for Checkout to grow. Not only grow, but grow in a way that others (PayPal) will be unlikely to duplicate, at least not easily. Third, many people still trust Google, so now is the time to strike before a major reputation dip hits. There are are of course plenty of people who have been distrustful of Google for quite awhile, but I think the “main stream web user” still gets a mostly warm fuzzy feeling when using Google services.
If Google really has learned some of these lessons, expect the integration march to continue. How about sending payments via Gmail, Google Talk, or SMS? Scheduling payments via Google Calendar? Twisting this around a bit, how about getting Checkout credits instead of a check for your Google AdSense account?
There is a reason that PayPal has been making features similar to these available, because Google can come in and do it without having to partner with anyone else.
This might be another example of Google coming into an existing field late in the game, but doing it so much better than everyone else that they quickly become the dominant player. Then again, Google has launched so many so-so services over the last 18 months that may do nothing more than live on life support.