Google has taken over Jambool, a company which develops platforms to manage online payments for virtual items that are retailed out on social networking and game sites. Jambool announced this big news on Friday.

Google said ”we are committed to offering consumers and merchants innovative digital payment solutions, and Jambool will help Google evolve our payments offering and expand into digital goods and content.”

Jambool is the only company that has a platform with an application programming interface, which can take care of purchases done in a flash game both during the game and for first time gamers. It charges 10% for every transaction but if the client is processing $25,000 then they reduce the fees to 7%.”We are thrilled to be part of Google, and we look forward to the exciting road ahead,” the company said.

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