Send Money Via Text Message with Google Wallet
Google may have diverted some of its attention from Google Wallet to the recently launched Android Pay mobile wallet, but that doesn’t mean that Google Wallet is on its last breath. Last Thursday, Google announced they will soon add a feature to its Wallet app allowing users to send money by text message to people in their Google contacts.
The service will be similar to the one already offered through Gmail. In the email system, a person simply has to select the dollar symbol in the email creator to send money to someone else. The money will be pulled from the funds in the person’s Google Wallet or through a backup funding source attached to the account.
When money is sent via Google Wallet to a phone number, the recipient receives a text message with a secure link. They just enter their debit card in order to claim their money, which is transferred in minutes.
Google Wallet is available on both the Android and Apple platforms. Although it is not designed to make payments at businesses like Apple Pay and Android Pay, this new person-to-person money transfer system could revitalize the app. Apple Pay still does not offer P2P payments, so most users turn to PayPal to handle their transactions. Now they have a secondary option through Google Wallet.
Google has recently updated a number of other features on the app, including the way contacts are displayed in the system. Once a user sends money to someone, that person appears more prominently on his or her contact list. Google Wallet does not support NFC payments, but users who wish to pay through contactless methods in stores can use Android Pay to complete their transactions.