Lots of rumours that Google will launch a payments system next week (June 28?) that will rival Paypal. The benefit to Google is (apart from the commission it will take on every transaction) that the data will show just which ads are really effective.
Right now they track views and clicks on all ads, and encourage advertisers to use their conversion tools, so they have a good take on what is working. But adding on payment means they know exactly what revenues are generated by each ad - so their system keeps getting smarter and smarter.
But Google have deeper ambitions - they want to run the store.
"I have this fantasy that goes like this," he said at one point. "You are the C.E.O. of a large company, and I come to you and say, 'Give me $1 million and give me your Web site, and we will guarantee you will get $100 million in sales.' Which C.E.O. would turn that down?
Of course the unhappy ending of this fantasy is that next year the CEO is asked for $2m (or more) - and how can you say no.
Google is going to end up upsetting lots of people - including lots in the ad industry.
UPDATE - we got the date right, but the name wrong. There is a really good summary on Google Checkout here