Google Checkout: Google Checkout is Google's payment service. It is an online payment processing service that the company launched in 2006 and was later moved over and rebranded as Google Wallet.
Before it was discontinued in 2013, Google Checkout helped users purchase items in stores by using their Google accounts. Google used this information to help understand merchant conversion rates a bit better; the research also aided the search provider in understanding how different keywords affected different markets.
For US merchants, up until 2009, the cost to use the service was 2% of the transaction cost plus $0.20; in the UK, Google charged 1.4% + £0.20. The company then switched to using a tiered structure similar to that of PayPal, another payment processing service. The service also gave charities the opportunity to collect donations without incurring the regular fee.
Today, the service has been replaced by Google Wallet, a mobile payments service that lets users store their credit card, debit card, gift card, or other payment information on their mobile phones. Google Wallet is available on most smartphone brands and on some tablets. The app works by letting users tap their smartphones against a Google Wallet station.
So far, the merchants who accept Google Wallet include American Eagle Outfitters, Macy's, Subway, Walgreens, and others. The app features security measures to prevent the use of stolen credit and debit cards, but some say it is still accessible if the account is hacked.