I read, a while back, rumours that Google might be entering the online payment market. The reaction from PayPal at the time (I recall) was cautious — their spokesman saying something along the lines that they would monitor the situation and had already asked employees to unearth more info.

Since then, it looks like Google’s plans have progressed, according to this article (and this one as well), so I wonder how long till Google will release a(n interminable) beta API for using their payment system…? (And allow users to sell more than just physical items, which apparently isn’t allowed at the moment).

Setting aside for the moment, assumptions that Google’s online payments processing is/will be faster, my theory is that, at the very least, the API component of PayPal’s market is ripe for the picking. If not by Google, then by any payment merchant who comes up with a better API for 3rd party access. By better, I mean a simple, REST-based API (or at least dual access, like Amazon), instead of the SOAP gunge PayPal is currently foistering for developer access.

The sooner the better.