The first time I looked up the domain "GDrive.com" it appeared that someone other than Google had it registered. A trip down memory lane takes us to my very first article that describes how I determined GDrive.com is in fact owned by Google, despite what it looks like on the surface.
Well, by the same logic I have found that a brand new set of domains appearing to be registered to someone else were actually registered by Google on May 25th.
The domains googlecheckout.net/org/info (.com is owned by someone else at the moment) have all been registered to a company called DNStination, Inc. Don't be fooled, the registrar is MarkMonitor -- a company that prides itself on the protection of your corporate identity. There is no way they would let just anybody register a domain with "Google" in it -- especially since Google is one of their clients.
Then who is this DNStination, Inc. then? Googling the address of this "company" tells us exactly who it is. The address maps directly to none other than MarkMonitor itself.
Since we know Google is behind it's registration, what is Google Checkout going to be? I think it will be a shopping cart system to help websites accept payment for their items online. The money site owners make will be deposited into a holding account at Google -- just like AdSense works.
Isn't this starting to sound a lot like PayPal? Who knows, they could even offer a Google branded Mastercard "debit card" like PayPal's ATM/Debit Card -- after all, the domain googlemastercard.com is registered to Google too.
If this is indeed what they are planning, it would make sense for Google Checkout to tie into Google Analytics so website owners can easily track with certainty how their AdWords campaign is directly affecting sales -- right through the checkout process.
Maybe one day Google will even provide an inventory management solution with an API so websites can have their inventory in Google Base and on their own website without double entry.