Google Wallet Soon?

Red Herring writes:

Dan Schatt, an analyst with Celent, a research and consulting firm, predicts the search giant will release the service by the end of the first quarter, if not for the holidays. Google spokesperson Sonya Boralv said there was no announcement.

By launching this service, Google would likely control even a greater share of user activity on its site. With the pay-per-click model it popularized, the company collects a fee anytime a user clicks on an ad. With Google Wallet, a consumer that clicked on an ad for a product could purchase that product without leaving the site.

However, both the user and the merchant on the other end would have to sign up for the service in order for the transaction to take place, Mr. Schatt said. The money would move from the consumers account to the merchants, with Google pocketing a fee.

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.