It's the festive season, so over at the Android developer blog they've just unveiled version 3 of in-app purchasing. Most of this isn't for show and tell, and is back-end stuff that most people won't notice. It does include some cool new stuff:

• Streamlined code. Google says what used to take several hundred lines of code can be done in as few as 50 now.
• A more robust architecture.
• Local caching, so API calls happen faster. That means part of the legwork is being done on your phone, without the need to call into Google Play.
• And "the ability to consume managed purchases and query for product information."