A googleverse of video: Google video service

I'm excited by this planned offering because if anyone can provide online video in a profitable manner it is the big G.

Google To Launch Online Video Playback This Monday

Monday Google will launch an in-browser video playback feature based on the open source VLC media player. This is the logical next step for Google's video search and upload function, which began taking uploads from anyone who cared to submit back in April.

I am currently a user of the AdSense service and the amount of money I'm making off it on my Tech Observer site is paying all my hosting charges and extra. The reason I mention this is that AdSense works very well for me, was easy to set up, and the payment checks just keep coming every 30 days. I would expect that the payment mechanism they have in place for AdSense could be used to send royalties to video producers.

What I'm unsure of, is how they will reinvent the 'digital payment' details.
read more on it here

on comments from CEO Eric Schmidt at Google said "Google did not intend to offer a "person-to-person stored-value payments system" like PayPal's, in which money briefly resides in PayPal's control during the transaction, but he did not give details of how the Google system would differ.

"The payment services we are working on are a natural evolution of Google's existing online products and advertising programs, which today connect millions of consumers and advertisers," Schmidt told Reuters in a brief telephone interview in which he declined to elaborate.

"We believe that e-commerce can be improved and we are working on ways to improve the user experience," Schmidt said.

My first impression would be that they would not store value, but forward it. So for example if you were a user, you would receive royalty payments to your account which would be distributed after $100 had been reached and 30 days. Which is the current terms for AdSense.

The way the consumer purchases content, would be the obvious area for innovation. I know with the other side of AdSense, the AdWords program you are paying a fixed fee for a fixed number of click throughs. Again you are not storing value, but purchasing a fixed number of transactions with a statistically known time frame in which the AdWords would be consumed.

Because they are not storing value, they can I think avoid a lot of the hassle PayPal had for acting like an unregulated bank...