Google Wallet: Make Payments With Google

"Over the past four years, Google has billed advertisers in 65 countries more than $11.2 billion in 48 currencies, and made payments to advertising partners of more than $3.9 billion.

As the number of Google services has increased, we've continued to build on our core payment features and migrate to a standard process for people to buy our services with a Google Account. Examples of this migration include enabling users to buy Google Video content, Google Earth licenses, and Google Store items with their Google Accounts. We also just began offering similar functionality on Google Base.

Looking ahead, we want to continue building payment services that meet the needs of Google users and advertisers. We expect to add payment functionality to Google services where our users need a way to buy online. " (Google Blog)

Google will provide a centralized place where you can make your payments, check your payment history. They might change AdWords philosophy: instead of visiting the website of the producer, you will directly buy the product through Froogle.

Related: Google to compete with Pay Pal