Google has just replaced Google Checkout with the new Google Wallet. Google quotes:
Thank you for being a loyal Google Checkout customer. We are writing to inform you of an important change to your Google Checkout account that will help bring together your online and in-store shopping experience.
Today we are introducing the Google Wallet online service, and we are transitioning your Google Checkout account to be part of Google Wallet.
Check out the FAQ of the transition to Google Wallet below:
Thanks Jim for the tip!