Google payments

Rumors have been around for some time that Google will roll out a payment system. Company representatives have said it won't be a person to person payment system like PayPal. I suspect it will be a micropayment system that lets users pay for content out of their Google Wallet. This is a crucial component of the Internet ecosystem that has been needed for some time, and Google is one of the few entities with enough clout, eyeballs and technical capability to roll it out. It will enable Web publishers large and small to sell content, going beyond the current Google AdWords model which allows ad sales. This would allow publishers ranging from the very big (Slate, Salon, New Yorker, Time, etc.) to the very small (individual bloggers) to monetize both new and old content.

In a related development, Google is readying a platform that allows people to upload video and make it available for distribution. A natural step will be for video auteurs to charge a fee for each viewing, or for Google to split fees with content providers for footage from news, sports, movies, etc. Google has already reportedly made a lot of progress in video search.

While I'm impressed with Google's string of innovations (images, Gmail, maps, etc.) I still think the stock is overpriced at $300 :-)