Although many people seem not to be aware of it Google launch a payment provider. The payment service, called “Checkout,” was meant to serve as an electronic wallet that enables consumers to buy products and services from online merchants without repeatedly entering the same personal and financial information at each store, not unlike Paypal.

Nearly every venture that Google has released in recent years have been immediate successes. However it appears that the search giant’s new venture needs a little more promotion to get the ball rolling. Google said Wednesday that it would be waiving the merchant processing fees for its 4-month-old payment service through Dec. 31, hoping the offer will spur more retailers to check it out.

Merchants can already dodge a fair amount of the fees based on how much they spend on Adwords advertisements distributed by Google. For merchants without an Adsense account Google will charge 2% of the total transaction plus $.20. Paypal’s fees average about 2.3% and have an additional fee of $.30. So Google Checkout will save any merchant a little compared to eBay’s provider in any case.

However, merchants with Adsense accounts are able to process $10 worth of transaction for free for every dollar they spend on Adsense. This makes payment processing essentially free for a great many online retailers and wholesalers.

The holiday season offer is also available to merchants who don’t advertise through the Mountain View-based company.