Last June, rumors of a future Google payment service first surfaced under the name "Google Wallet." Now, a year later, it has been dubbed "GBuy" by the media and is expected to launch later this month.

Although not yet formally named by Google, the online payment system has been tested through Google Base. While Google itself has been mum on the new service, in a recent research note, RBC Capital Markets analyst Jordan Rohan suggested that GBuy would launch June 28 as a free beta preview.

Full story here: