Google is set to launch a new service of users called Google Offers. The new service will be in direct competition with Groupon reports Mashable. Mashable was given some documents by a source that outline Google’s plans and what the service will look like.

Google Offers is a group buying service and the description from the leaked documents describes it as, "Google Offers is a new product to help potential customers and clientele find great deals in their area through a daily email."

The service at its core will be an offering that emails coupons for the user's local area to them on a daily basis. The sample coupons show things like 50 percent discounts on food at a local restaurants.

Google Offers will be paid for using Google Checkout and will integrate with Facebook, Twitter, Google Reader, Google Buzz, and will have other email sharing options along with those main sharing options. Apparently, the search is on for participants in local markets and odds are the early advertisers on the service will be major chain restaurants and locally owned businesses.

Google told Mashable, "Google is communicating with small businesses to enlist their support and participation in a test of a pre-paid offers/vouchers program. This initiative is part of an ongoing effort at Google to make new products, such as the recent Offer Ads beta, that connect businesses with customers in new ways. We do not have more details to share at this time, but will keep you posted."

Mashable also reports that it has leaned Google will pay the business 80% of what the offer made within three days of the offer ending and hold the other 20% for 60 days to cover any refunds.

Google also made big headlines this week when CEO Eric Schmidt announced he was stepping down as CEO and would be replaced by Larry Page.