Google Contacts May Soon Allow Peer-to-Peer Money Transfers

Google Contacts May Soon Allow Peer-to-Peer Money Transfers

March 12, 2018         Written By Bill Hardekopf

Early reports from Android Police point to a new feature coming to Google Contacts. Some users in Canada have already seen a new “Send” option in the Contacts app, and coding strings in the latest update suggest that peer-to-peer money transfers will soon be an option through Google Contacts.

Google already offers the ability to send money with Gmail or via text message, so the addition to Google Contacts comes as no surprise. The Send icon on a user’s app looks just like the one on Gmail, a simple dollar sign that opens Google Pay.

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Google has not yet commented about this new update. This is what is known at this point:

  • To send or request money, you must have the latest version of Google Contacts installed on your device.
  • You must have a Google Pay account, which is free to use and fairly easy to set up. Google may prompt you to sign up for an account if you try to send money without one.
  • Selecting “Send” on a contact’s profile will show different ways to send that person money, mostly via text message or email.
  • After selecting the method of transfer, a Google Pay screen will appear. This provides a place to enter a transfer amount, and shows which card on file will be used for the transfer. You can select another payment method before completing the transaction.

There is no “Request” option at this time, but that function was in the coding strings. Assuming the service works like other features of Google Pay, recipients will receive a link once money is sent to them. They can then use the link to add their phone number to their Google account and select a default payment method. The money will be transferred to that account, and future funds will automatically go to the same account.

The information contained within this article was accurate as of March 12, 2018. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.