Its for taking and receiving payments over the internet. Yes I am considering adding it as a payment option for Hosting.
Yup, I use Google checkout. (In UK) I haven't had a lot of sales through it, but it's been 100% reliable and very easy to use. And unlike PayPal etc al the money automatically gets transferred to your bank account after a week or so. I'd recommend it, so far. I've been using it a couple of months... and no fees till end Jan. When they do start charging fees you can offset against Adword fees - seems like a great scheme.
Update: FWIW, I've had 27 transactions through Google Checkout so far. <<Beginning February 1, 2008, you'll be charged a low 1.5% plus £0.15 per transaction. If you use Google AdWords, you can receive free credit card processing for some or all of your Checkout sales - just make sure you link your AdWords account to Checkout.>>
I have not used it but definitely going to use it when I have my own credit card. Unlike paypal it is supported here in Pakistan. Can anyone tell me that if any of my client has paypal and no Checkout account, can he pay me from his paypal to my google checkout account?
Yes, I had an in fact even now I have Google checkout integrated with my shopping site..Its just an option apart from paypal and other services..I have used it for 5-6 months only and till now its service had been just fine..transaction fee resembles paypal somehow..but much easier and safer to use than that..overall I had a positive experience with it so far..