Google to Distribute Discount Coupons Online

How often do you search for coupons online?

I did use a coupon that I printed online couple of weeks ago for my car repair, and was useful.
I m sure you all at some point have gotten mails full with coupons. But now Google is also taking part where it is displaying coupons from merchants that are listed in Google. According to the news, VALPAK will be providing initial coupons to Google and will be updated every night. It will be available on Google's mapping service.

Google will also allow other businesses to come up with coupon and take part and its free for them to do so.

But how does it affect other online coupon services? I m sure it will hurt them since Google has lots of traffic. It is taking advantage of its huge traffic. VALPAK got lucky but at the same it is also boosting other businesses, and I would like to see how it will affect the google ads. Google is planning to display short, text-based ads as well.