Is it possible to implement an express checkout with Drupal commerce? I'd like to setup a product, where it's just a one page form customers fill out, and a button labelled 'Pay now'. 

I don't want a list of products or add to cart functionality or anything like that. Just a simple form and a button. A confirmation page and email is fine. 

Is it possible to do this with Drupal Commerce?
Here is a nice tutorial on how to set up an EXPRESS CHECKOUT using Rules
to bypass the add to cart stage.

I noticed there is a Commerce Express Checkout module, but I personally rather use rules to do it. 

To display this on your home page, using the views module you'll need to create a block view  of your product and put it in your home page.