Gmail is currently the most widely-used email service around the globe. Google has also tried to push Google Wallet as a comprehensive financial tool for quite some time. Now, the company is enabling Wallet users to ‘attach’ money in their Gmail drafts and send this money to other contacts.
In the compose window of Gmail, users are presented with a tiny $ sign. Once you click on the sign, you can attach your Wallet account, designate the exact amount of money you wish to send and then send it as a gift or repayment.
If you are transferring money from a bank account, Google doesn’t charge any fee on the transaction. The whole process essentially utilizes the same money exchange system that is used in Google Wallet. So when you try to pay money to someone through a credit or debit card, Google charges you 2.9%.
People who don’t have a Gmail or Wallet account can still receive notifications when they are sent money. But to receive the money, they will have to sign up for Wallet. Once the recipient completes the process of receiving this money, he can have it deposited to a bank account or simply use it at a place where Wallet is accepted.
Google Wallet has been around for a while but it has failed to gain much traction. The ability to make payments right through your email is a huge convenience for users – and this feature may let Wallet get the right kind of limelight and audience that Google has been positioning it for. This new Gmail feature of Wallet will be made available by Google in the next few months, for users aged above 18.
Source: Google Wallet
Courtesy: The Verge