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You Can Now E-Mail Your Friends Money Through Gmail

Thursday, May 16, 2013 - 7:22 PM
From Consumerist:
Yesterday Google integrated its Google Wallet payment system into Gmail, allowing users to send money to each other via e-mail.

For users sending money straight from a linked bank account — or from a balance in their Google Wallet account — there is no fee. If you’re using a credit or debit card to send money, there’s a flat 2.9% fee (with a minimum of $.30).

Read more

This feature will be rolling out to Gmail users ages 18+ in the U.S. over the next few months. You can also get earlier access if your friends have the feature and send money to you.   There is a video and more information at this Google Wallet website.

Ken, I wonder:  how many of your readers have used various P2P (person-to-person) payment systems to send money to others?

P2P is an online technology that allows customers to transfer funds from their bank account or credit card to another individual's account via the Internet or a mobile phone.   You can fnd more information on how it works and why it matters here.
pearlbrownpearlbrown1,474 posts since
Nov 2, 2010
Rep Points: 6,405
1. Friday, May 17, 2013 - 2:17 PM
This is nice, but less than it appears. All this is doing is adding a button in Gmail to access your existing, linked Google Wallet account. 

I have used Google Wallet to receive payments. The users paying me via Google Wallet pay nothing for using it, I have to pay, the receiver. I suppose who it is who Google identifies as the originator pays, and I originate the payments via an invoice sent via Google Wallet. But in the example noted above, the sender was the one initiating the transaction. The fees are about double what a credit card charges a merchant.

I haven't had any interest in just sending someone money, but I expect that feature has already been in Google Wallet for some time. 

BTW, I note, you do NOT need to have a Gmail address in order to use Google Wallet. You can set up Google Wallet with an e-mail address from any provider. 

I also will note, it takes 2-3 days for the money to show up in your bank account, so if you need instance cash today, this will not work.
me1004me1004373 posts since
Jan 16, 2010
Rep Points: 2,598
2. Friday, May 17, 2013 - 4:43 PM
I wouldn't touch this with a ten-foot pole! Google already snoops around in your gmails and now it'll have access to financial data on you.

Thanks, but no thanks.
darkdreamer4udarkdreamer4u178 posts since
Jun 11, 2010
Rep Points: 638
3. Saturday, May 18, 2013 - 8:27 AM
When accessing my bank account on-line this morning, I noticed the bank is introducing something called "Quick Pay" which seems to be what posters are posting about in this blog.  Has anyone used this through their local bank and had any unforeseen problems with it?  I just don't like the idea of it although it adds an additional convenience for us.  As for the Google thing.  I would not use any thing that allows "more" strangers to see private financial data.  We are growing very fast into quite an electronic society and world.  Too fast for me!
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135