Google Checkout - Online Payment Service

Google has just launched Google Checkout - its new online-payment service similar to PayPal. Google Checkout has also been referred to as Google Wallet and Gbuy). The new service will compete with PayPal and Amazon.com. It is reported that rebates will be offered to people who use Google Checkout to purchase online. The online payment service will be combined with AdWords and allow merchants and advertisers to embed an icon into their ads -- indicating they accept Google Checkout payments. Then if the customer wants to buy, they simply go through the process to complete the purchase.