Fresh off the press. Google Checkout is online! It’s been in the rumour mills for some time now, and finally Google has come up with a solution to online payments. Perhaps it’s not really the PayPal-killer it’s supposed to be, as you still cannot transfer funds to other people online. But with partner sites that accept Google Checkout, purchasing online sure is a breeze.

Here are some key features:

Save all your credit card info in one place. Now you don’t have to create accounts with each merchant or for each of your credit cards. It’s like an online wallet that saves everything for you. You even get to save your purchase history for easy review later on.

Security. Google promises security in all your transactions. Google offers a fraud protection policy that ensures you don’t get charged for unauthorized purchases, if any.

Participating AdWords advertisers can now support Checkout and allow users to pay for purchases using this new tool. If you’re an advertiser and you offer payments via Checkout, you can even include the Checkout badge to more easily identify yourself and attract more clicks.

Checkout and payment is easy, since all your credit card details are consolidated, and you would only have to choose which to use for payment.

Google Video even has a video guide on how buyers can use the service, and how sellers can participate.