Sending money to someone till date involved a lot of painstaking procedures. Login to your bank account, request for a money transfer, input their account number, then your amount, then enter transaction password, wait for OTP, done, HUH! And for all of this to be done comfortably, you would need to use a PC or a larger tablet. No doubt it can be done via your smartphone, but the experience is not as great.
Now, you can send money as simply as sending them an email. Yes, Google has introduced sending money via email, using Gmail. All needed is a simple Google Wallet account and you can send and receive money by a simple Gmail email. For now, the service is only available in the US and UK, but it will definitely be here soon. If you see a Rupee symbol in your email, then you have received, or can send money by a simple click on it and enter the amount. The money is then transferred to or from your Google Wallet, which needs to be linked.
How to use it:
Send or request money in Gmail, as easily as sending a picture. Just click the $ sign in your attachments bar. If you are in the US or UK, for now, and over 18 years of age, all you need to do is to click on currency symbol in the email while composing (when you send an email) or accept / return (when receiving the email). Your Google Wallet will be debited or credited accordingly and you can then transfer the amount to your linked bank account.
Don’t have Google Wallet? No issues—when sending money, if you click on the currency symbol, you will be asked for your bank account’s debit card. The rest is assured. However, the receipient has to have a Google Wallet account for receiving the amount. The recipient can also accept or return the amount if they desire.
Is it safe?
Google Wallet is protected by a fraud monitoring service and fraud protection guarantee. You can lock your Google Wallet by using a PIN and alternatively, you can disable the feature till you need to use it again.
If you think this is just another service to add to the already existing money transfer market, then you should know that Facebook has one up their sleeves too.