With this new Gmail App feature, whether its paying for dinner or planning an event, you can now send and receive money from your Gmail App on Android or web without moving an inch from home,work ,etc. You can exchange money with anyone not just people with Gmail addresses. You can already reliably and safely share photos and files on the go with Gmail well this feature works the same way just like an attachment.
The entire process takes place in the Gmail app and does not require users to have Google Wallet installed whatsoever. Recipients can configure it so the money they receive through Gmail goes directly into their bank account as well. The catch here is that there are no fees involved. Ain’t this cool?
Even though this new Gmail feature is great and all taking into consideration the over 1 Billion people actively using Gmail accounts daily, what will this do to the all the standalone payment apps we have in a countries like Ghana, Nigeria,Rwanda and Africa as a whole, where companies like SMSGhana,ZeePay,ExpressPay, SlydePay,etc are now gradually gaining a foothold on the cashless payment industry. Another question is can these companies compete with Gmail when Google extends this “FREE” feature to Africa?
Well the good news is this feature is currently available in the U.S on Gmail for web and Android only. Also whether or not people would turn to the Gmail App to send or receive money is another issue to be discussed in our next article on this topic.
Send and Receive Money in your Gmail App on Android
Sending money in Gmail is as easy as sending any other attachment. Just tap on the attachment icon and choose whether you want to send or request money.
Recipients are able to receive or request money right from the email itself without having to install another payment app. They can even arrange for money they receive to go directly into their bank account. Either way, it’s completely free for both of you.
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