Paying By Email with Google Wallet
December 17th, 2013 by
If you use Gmail (and let’s be real, who doesn’t?), chances are you may have noticed a new feature pop up recently.
Unfortunately, clicking the $ doesn’t mean you magically receive money.
Similar to Venmo, the newly implemented Google Wallet allows you to quickly and securely send money within Gmail.
When you set up your account, you’ll be prompted to verify your identity. Once that’s done, simply enter the amount you want to send, choose your source and attach. Easy as pie!
As usual, there’s a catch. While sending money via your Google Wallet balance or linked bank account is free, using your credit/debit card is not — there’s a flat fee of 2.9% per transaction.
If you’re like me and worried that your money could end up in the wrong hands, Google Wallet Purchase Protection covers you 100% against eligible unauthorized payments. I won’t bore you with the details — you can read more about that here.
Weirdly enough, no one volunteered to send me money to test this out, but all you have to do to receive money is open the message with attached money and click “Claim Money.” (At this point, if you haven’t already signed up, you’ll be prompted to do so.) All funds are automatically added to your Google Wallet Balance.
You can use your Google Wallet Card (which you can request on wallet.google.com or via the Google Wallet app) to make in-store and online purchases anywhere that accepts MasterCard® Debit, as well as to make cash withdrawals at ATMs and banks.
So what does this mean for us?
The next time you’re at dinner with a big group of friends and don’t want the hassle of trying to divvy up the check, one person can foot the bill and have their friends pay them back on the spot using Google Wallet. No cash necessary!
Google Wallet also makes it easier for your parents to give you money. I’m just sayin’…