Google seems to be clearing out its product line, as one more product, Google checkout get added to its list of shutdown, with Google reader, SMS search and CalDAV API.
In its recent blog post, Google announced that it will be closing Google checkout, an online payment processing service within next 6 months. The merchants can accept payments using Google checkout until 20th Nov. 2013.
Google checkout was launched in 2006, in order to provide users an option to store their shipping information in their Google account to provide easy tracking and status update. However, it was not able to take much of the lead. In 2010, eBay also banned the use of Google checkout for eBay transactions.
As mentioned clearly by Google on the blog, the move is an ultimate decision to focus more on other areas of the payments space.
Google will now focus more on Google wallet, a virtual wallet that stores payment information securely and works for payment in both offline and online store. With Google Wallet, users can store credit, loyalty, and gift cards and make payments through MasterCard and PayPass from their smartphones.
Also, last week, Google has announced two major updates to Google wallet, Instant Buy API and Wallet Objects API, that enable merchants have faster transactions and to engage their customers with loyalty, offers, and more. Send money in Gmail was the other feature added to Google wallet recently.
Previously it was considered quite obvious for Google to be able to compete with Amazon and Paypal in payments. However, with Amazon and Paypal dominating the ecommerce space, the Google was left completely struggling to keep itself in this business.
With Google wallet in its hand, will Google be able to present a case or will be fully wiped off from the payment processing market, is worth noticing in the coming years.