Google introduces Gmail money transfer.
Monday 20 May 2013
Google has announced a new feature to gmail that makes transferring money from your bank account to a friend or institution as easy as attaching a photo or file to your email, according to CNET.
While Google has already established Google Wallet for payment via mobile devices, this new feature will act as a solution to a retail market that has not yet fully embraced NFC mobile payments.
"We are not pulling away from NFC. We are simply making a much richer Wallet experience. There are still places where NFC can't be used. And not every device has it yet." said director of product management for Google Wallet, Peter Hazelhurst.
The new feature allows users to send money to and from their Google Wallet via email, for free. Although the service is currently only available with a desktop device, transferring money is as easy as clicking the '$' symbol, entering an amount and pressing send, much like clicking on the paperclip icon to attach files to an email.
While the new service would have many users concerned over account hacking and other security issues, according to Mr Hazelhurst, the company offers 'Google Wallet Purchase Protection' that covers 100 percent against unauthorised payments and that no account information is shared over email.
The feature is still rolling out across the U.S. but for those who can't wait, only need for a contact who already has the feature to transfer them $1. Once this is done the new '$' icon should appear when hovering over the attachment paperclip.
NFC mobile payments systems and online money transfer may be ushering out the era of the plastic bank card payment method but Australians will still require a regular bank account to manage their finances and Aussies can compare to find the best bank accounts with the lowest fees and charges on Mozo.
Have you tried Google Wallet or the new email payment function? Tell us about your experience here.Compare today's top bank accounts