GOOGLE BUY
The WSJ says that Google is launching GBuy -- an online payment service which will compete with PayPal.

"...PayPal must now contend with Google. The Mountain View, Calif., Web-search giant, which has terrified Silicon Valley with its ability to quickly create new consumer products and services, is developing a rival service called GBuy. For the last nine months, Google has recruited online retailers to test GBuy, according to one person briefed on the service. GBuy will feature an icon posted alongside the paid-search ads of merchants, which Google hopes will tempt consumers to click on the ads, says this person. GBuy will also let consumers store their credit-card information on Google."

However, unlike some of Google's other projects in development, GBuy.com doesn't bring up a website.