Google seems to be rolling out an online payment system code named "Google Wallet". The function looks very similar to PayPal. For one thing, they have rolled out two new sub-domains purchases.google.com and purchase.google.com. Also a gateway that leads into those domains https://www.google.com/accounts/NewAccount seems to consolidate all the google service into one password. For example, since I already have a gmail password I can log in via my Google Account and I can then move freely through Google Email, Google Answers, Google Adsense, Google Earth...etc without signing in separately - just like Microsoft Passport.
Google Wallet seems a logical move. After all, more and more I see google selling the coinage of trust rather than technology. Google is offering many over-lapping services with Microsoft and Yahoo. The technology between the 3 is close enough that in practical terms any one of the three would do the job. The choice of which to choose comes down to the issue of trust. Do you trust Microsoft or Google to hold your e-mails for you? do you have faith your browsing habit would not be sold by Microsoft? Google Wallet would not be any different. Who do you trust for your banking and credit needs, PayPal or Google? With hundreds of millions changing hands from adsense, item purchase, and froogle, it makes sense for google to establish its own PayPal. The only question is, how long can google bank on simple faith and trust of consumers. Without the next innovation to satisfy costumers, google stock might hurt deeply once the honeymoon is over.
And sadly, I have a feeling the honey moon is almost over.