Six months after Google's purchase of app monetisation specialist Jambool came to light, the first fruits of the new partnership are coming to the fore.

As expected, Jambool was set to work on taking its hand to Google's payment processes, but not, as was commonly predicted, in terms of any assault on social gaming.

Instead, the firm has been using its expertise to prepare Android's much anticipated in-app payments system.

Going for gold

As a result, Jambool's own virtual currency tool popular with social studios – Social Gold – is set to close its digital doors.

"As you know, Jambool was acquired by Google last August," the firm said in an email to Social Gold studios, as detailed by TechCrunch.

"This acquisition meant that some changes to our business were inevitable, and we’d like to share them with you today. First, the existing Jambool Social Gold product will be discontinued in favour of a new Google in-app payment product in May 2011."

Beta bonus

As a sweetener to Social Gold's closure, Jambool is inviting clients to participate in the first beta for Google's in-app payments system.

"This system will enable developers to accept payments within an app, but it will not have the full functionality of Social Gold at launch," the company added.

"We understand that this will not meet the needs of all developers currently using Social Gold, but we highly encourage interested developers to join the Google in-app payments beta."

Said beta has taken some time to materialise, with the full in-app purchase set up having originally been promised by Google in Q4 2010.

May is now the system's proposed launch, which – surely by no coincidence – is the very same month Social Gold will be terminated.

Developers interested in signing up for the in-app purchase beta should visit Google's checkout website.

[source: TechCrunch]