What Google Wallet is still alive? You can be forgiven for asking that question as this particular product stagnated for some time now. But now that Apple Pay is (trying to) make waves in the payment through NFC market,then Google is reviving the product and is even willing to pay you when you use the service to give money to other people. What they’re really after is to increase number of users, so if you’re reluctant to give your information to Google in exchange for a little cash, then maybe this isn’t for you.
It’s not as easy as Google throwing cash at you when you use Google Wallet. First of all, you need to have money or balance in your account (of course you need to give away before you can receive). Secondly, the person you’re giving money to has to be a new user. It can’t be just a returning one, it has to be someone using the service for the first time. And both of you need to have US addresses registered to your account. You can send any amount to the new user, even as low as a penny.
Google will give you $5 for each new user that you bring to the fold, but you will only be rewarded for up to 20 new users. If you want to invite beyond that out of the kindness of your heart, sure you can, but don’t expect any reward. To claim that $5 per user reward, the ones that you sent money to have to actually sign up, including setting up their profile and verifying their identity. Really, the purpose here is to get as many users as they can on Google Wallet to even be able to compete in the market.
There are only limited “slots” as Google will only be paying out for the first 20,000 new users that will be signing up for Google Wallet through the recruitment efforts of existing users. So if you know someone who’d like to try this payment through NFC service, you have until the end of the month to do so (or if the alloted $100,000 runs out, whichever comes first).