Expected in the fourth quarter of 2009, the Vcast application store isn't meant to compete with Apple's app store, according to Verizon. It just happens to be an over-the-air marketplace for application developers to distribute their apps on.

The basic model resembles Apple's app store except that rather than requiring users to set up accounts or enter credit card information, the Vcast app store will use Verizon's existing billing system and slap the charges onto users' monthly bills.

Verizon says that it hopes to have an application approval turn around time of under 14 days, but what I'd like to know is whether there'll be a Google Voice app among the bunch or if it'll be rejected. [CNET]