Google is set to launch an in-app payments service for developers to take payments from within web apps in May 2011.

The news comes from Jambool, a company which was bought by Google last summer and facilitates 'virtual monetisation'.

It is currently sending out an email to registered developers, which states: "The existing Jambool Social Gold product will be discontinued in favor of a new Google in-app payment product in May 2011."

Inapptitude

The new Google-branded service is only intended for web-based in-app payments, while Android apps are also set to get in-app payment services at some point in Q1 this year – which gives the mobile provider 29 days to get it out into the wild.

The web app payment system is currently in beta, and allows "developers to accept payments within an app."

However, the new Google version does not have all the functionality of Jambool's previous product, known as SocialGold.

Via TechCrunch