Anybody know when Google plans to
launch its new payment service?

Thanks

I doubt anyone knows that :) It is confidential information probably. However, I presume it will take around 8-10 month

Probably Google has given a hint that it might set up an online-payment service. As per the news report by Wall Street Journal 'Google is likely planning to become your next PayPal '.

I can imagine what was the reaction of PayPal Management on that

Yeah, but it will be in BETA for two years after it comes out ;)

Google does not plan to launch a person-to-person stored payment system that would compete directly with PayPal, but it is working on a payment system to improve the way e-commerce is done, Schmidt told reporters, according to the U.K. representative.

Google's aim is to solve other problems with e-commerce, according to the representative. Much of the search company's activity today revolves around online advertising and tools such as its Froogle online comparison shopping engine.

Yeah, but it will be in BETA for two years after it comes out

Ah the marvels of invite-only beta testing for extended periods of time... ring a bell anyone, oh right they are STILL "testing" gmail :)

In any case yeah if they do roll out a paypal type service with decent rates for merchants then that would be a nice addition really.

-Justin