Great Google Checkout Article in NYT today.
This may require a free registration, but the NY Times has a great article is one of the first to capture what I feel is the real economic power of Google Checkout. Sure the free 2% is good, but the boost in your adwords ROI is HUGE. Also, although eBay shut down Google Checkout for eBay sellers, we've very successfully (example in article) worked with eBay's largest sellers to send out Google Checkout $10 coupons to their registered buyer lists. The beauty is, Google pays the $10, so why wouldn't you do this as an eBay seller? You pay no eBay fees, you pay transaction fees and Google pays the $10 for the customer. Because of the huge success of this kind of promotion, we're going to be helping eBay sellers further automate this kind of cycle.
So ironically by banning Google Checkout on eBay, eBay is pushing sellers to promote it heavily off-eBay, so it's a double whammy (no eBay rev, no Paypal rev). It will be interesting to see how long eBay can go with this "GMV leakage' going on.