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Could be possible to handle subscriptions too, (monthly or yearly) sending notifications on expiration to both sides?
I have been thinking about that as well - but the whole point is to keep the payment process and customer separate from the product/service that is bought.
If done well, I imagine this to-be module would be able to work with another module so that the other module defines the product/service as a subscription (auto-assign to group on payment or whatever) while this module would only take care of the payment.
It would make this module suitable for a physical goods shop, a service provider, an automated music/download shop or a subscription service. But each of the mentioned ways would not need a module that incorporates music/downloads, services, subscriptions and physical goods AND the payment gateway - and individual modules for subscriptions, physical goods or music/downloads would not need to have the payment gateway in itself, only integrate with this payment module.