At present there are plenty of methods one can choose when it comes to sending money to someone else. One of the services that likely comes to the mind of many is PayPal, however that list will soon be growing. Google has recently announced the ability to send money from Gmail.
Simply put, Google Wallet integration has come to Gmail. This new feature will be rolling out to US based Gmail users over the "coming months." That said, once available you will need to look for the $ icon that will be sitting below the compose window and basically, this is just another form of an attachment.
Obviously the use cases will vary from person to person, however there are some items that you should know up front. To begin with, in addition to this being limited to US based users, it will also be limited to those who are over 18 years old. There may also be some fees attached.
Google has said it will be free to send money from your Google Wallet Balance. You can also send money for free if it is being sent directly from your bank account. Otherwise, those sending money using a credit or debit card will have a 2.9% per transaction (with a minimum set at $0.30). On the flip side, it will be free to receive money. Also, you do not need a Gmail account in order to receive money. Those receiving money will get an email notification to claim the funds.
All said and done, it should be interesting to see if this takes away any business from PayPal. This method certainly seems like it will be easier for Gmail users, however in order to really make a dent in PayPal, we would need to see Google have this integrated across other websites. After all, PayPal has the likes of eBay, not to mention the numerous other retail websites.
VIA: Official Gmail Blog