It’s Google Checkout offline, baby. Google has published a patent for Gpay, an SMS phone-to-phone payment system complete with an API and Web/WAP interface. Looks like your Gphone’s going to be a wallet, too.

Post from: EveryJoe

Google Patents SMS Payment System

Investors were antsy when Amazon CEO Jeff Bezos started to diversify from online retail to Web services. Now they can relax as the moneymaking synergy between the two business models becomes crystal clear: a payment gateway to compete with PayPal. The Amazon Flexible Payments Service allows online retailers to use Amazon’s payment system, a system honed by years of online retail leadership, even if they’re not selling stuff on Amazon.

Along with Google Checkout, Amazon FPS threatens to end PayPal’s flawed monopoly on global online payments. Inflexible payment solutions constitute an age-old barrier to global e-commerce; now watch that barrier crumble.

Post from: EveryJoe

Amazon Launches PayPal Competitor