Google announced the launch of its online shopping service, Google Checkout, on Thursday. Shoppers looking for a particular product can use the Google Internet search service to track down what they want, and then make their purchase online from a participating retailer. They can also use their Google Checkout login at participating retailer Web sites.

Google says that its new service will offer better security for shoppers since it handles the transaction. Google keeps track of your buying information, like shipping address and credit card number, in its own database. Users enter their Google login information at the retaileris Web site, and the purchase can be made without providing the store with your credit card information.

Shoppers can also check their buying history, and get reimbursed for unauthorized purchases.

The service puts Google in a position where it could potentially compete with Amazon.com and eBay. Google Checkout, however, does not offer a full store front site of its own like Amazon.com and eBay do.

Several companies are already offering Google Checkout support including Jockey, Starbucks Store, Leviis, Timberland, and Buy.com.