Google Checkout is not Paypal

There was considerable speculation that Google is set to launch a Paypal Killer. The Google Checkout which has been launched today is not a Paypal clone. It is basically a checkout system or a payment processing system. It is more like Amazon payment system than Paypal.

• Credit card information is stored by Google
• You can checkout on participating retailers using your Google Checkout account.
• Google maintains transaction history which you can access.
• There is merchant rating feature.
• It is not a person to person, stored value system like Paypal.
• It is tightly integrated with Google Adwords and more geared towards advertisers.

Nothing revolutionary in Google Checkout. Most likely move for Google stock= ?.

GOOG, Google Inc.