Google’s Digital Bank Reaches UK, Lets Users Send Money in Emails
Google’s “Send Money in Gmail” service will be launched in the UK today, the company has confirmed.
Google declared on its commerce blog that people of the UK have finally got this privilege to make monetary transactions via Email for free and without any complications for receivers to use the same Email service. However, the sender must possess the Gmail account in order to send money.
It further writes on the blog: “We’re rolling out this feature over the coming weeks to all UK Gmail users over 18 years old, so keep an eye out for the £ icon in the attachment options.”
As far as the process of the transaction is concerned, it is simple and easy. The service follows the same pattern as in case of sending a document or photograph that requires attachment on Gmail.
If the users want to send money from their digital Google Wallet, they just need to click on the “£” then along with a usual message they will enter the amount to be sent. Plus the sender will have to attach the figure of the total amount available in his Google Wallet.
Similarly, if a user has to send money from his debit card, he just needs to follow few basic steps. To illustrate: a user wanted to perform this task will visit Wallet.google.com and then sign in. Then he/she needs to click the “payment methods.” Click “Add to Wallet Balance” in Wallet Balance section. Finally, to complete the process, user will select the funding source and add money.
It will be free to send money from the bank account using Google Wallet Balance or via debit card. However, to send money from a credit card, will cost users a small fee. In the USA, where the service was started in 2013, this fee was about 2.9% per transaction.
Meanwhile, the receiver only needs to set up a Google Wallet Balance and link it to his bank account or debit card. They will then be able to keep the money either in Google Wallet or can quickly transfer it to their bank account.
As a security measure, Google will monitor users’ Google wallets to protect them from frauds. If any fraud is found, Google will either slow down the transactions or stop the transaction completely.
Abubaker Zahoor writes on diverse topics with special interest in innovations, tech-ethics, and inter-and intra- organizational business relationships.