In his most recent blog post, Derek Gehl points to the benefits of Google Checkout over PayPal, including its cheaper transaction fees and greater speed. Gehl also speculates what Google's motives may be by introducing Google Checkout, and what the company could do with the new commerce data it's collecting. Read his full commentary here.

According to Netcraft, phishers have found a hole on PayPal's website allowing them to inject their fraudulent messages onto the real paypal.com site.