Watch Out, PayPal: Google's Payment Service Is on the Way

The Wall Street Journal reports today that Google's GBuy online payment service that is rumored to compete with eBay's PayPal service may be launched this week. Some expect it to debut tomorrow.
The Journal says text ads that appear on Google searches will display a symbol if they accept GBuy payments. While shoppers will still be taken to the advertiser's site if they click through, those with the symbol will be taken through a different checkout process integrated with Google if they choose Gbuy for their transaction. "Details of the service could still change before Google's official GBuy announcement," according to the Wall Street Journal article.

The article also states that GBuy fees are higher than PayPal's lowest available rates, but that merchants who participate in Google AdWords will be given a discount or may even be allowed to use GBuy with zero fees.