Google offers cash by email service

Web search giant Google has introduced a new feature on company’s Gmail service which will enable its users to send cash. The service has currently been launched in the US.
How does it work?
The facility works in conjunction with Google’s online payment service, Google Wallet. Those who have Google Wallet account and wish to send money through email will have to 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.
The service 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. It will also function even with recipients who don’t have a Gmail account provided they have a Google Wallet account.

Month: Current Affairs - May, 2013