Earlier I had written about GBuy a Potential Paypal Killer. The Official Google Blog announced today that Google finally launched their much awaited Paypal Competitor Google Checkout.

Google Checkout has similar features like Paypal and will allow you to buy products online using the their Checkout service.

What's more the Google Checkout service neatly integrates with their search facility.

To find stores that accept Google Checkout, search Google for something to buy and look for sponsored links with this shopping cart icon:

When you see this icon, you'll know that the store accepts Google Checkout.

No need to sign up ahead of time. Just do your shopping and click the Google Checkout button to complete your purchase. If you already have a Google Account or use Gmail, just sign in — if not, signing up is easy. Then review your order and you're done.

You can also check your orders and shipping all at one place. Take the Google Checkout tour to know more.

Some of the Google Checkout features

Stop creating multiple accounts and passwords.
With Google Checkout™ you can quickly and easily buy from stores across the web and track all your orders and shipping in one place.
       
Shop with confidence.
Our fraud protection policy covers you against unauthorized purchases made through Google Checkout, and we don't share your purchase history or full credit card number with sellers.
       
Control commercial spam.
You can keep your email address confidential, and easily turn off unwanted emails from stores where you use Google Checkout.

Also see which Merchants Google Checkout currently supports.