Google introduces cash by email function
Hundreds of millions of Google users already send photos, documents, videos and event invitations via the company’s Gmail service. Now the web search giant is enabling to them to send cash as well.
Google announced the new payment feature at its I/O conference in San Francisco this month and said that it would work even with recipients who don’t have a Gmail account.
The scheme works in conjunction with Google’s online payment service, Google Wallet, and will be free to users who link directly to their bank account. For those who wish to deduct payments from their credit card, Google will charge a 2.9-per-cent service fee.
Users who wish to send money compose an email to the recipient and then hover over the attachment paper clip symbol and click the dollar ($) sign. They then enter the amount of money they wish to transmit and press send.
Though recipients don’t need a Gmail account, they do need a Google Wallet account to receive funds. Google said that the product was being introduced immediately in the United States and that international versions would be made available later