Bloomberg News has reported that Google will begin offering an online payment alternative to eBay this month. The new program will be called GBuy and will facilitate transactions between merchants and consumers. Participating merchants will be listed as Trusted GBuy Merchants in Google's search returns. The new product will help position Google to move into transaction-oriented advertising solutions. Wide-scale adoption of GBuy would help to improve transaction-level targeting and increase the chances that Google will offer a cost-per-acquisition-based product sometime in the future. TKG believes the GBuy product is likely part of a larger effort to capture advertising revenues across various online and offline media channels.
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The service is called Google Checkout. Unfortunatelly it is only available in the US (for sellers)
Hopefully this will change in the near future.
Goodbye PayPal, you really sucked!