Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Click for more information, or
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
Mobile Tech
DDoS Protection Powered By Verisign
Average Rating:
Rate this article:  
Google Bets Its Empty Wallet on Gmail Tie-In

Google Bets Its Empty Wallet on Gmail Tie-In
By Jennifer LeClaire

Share
Share on Facebook Share on Twitter Share on Linkedin Share on Google Plus

If enabling Google Wallet money transfers via Gmail works, said analyst Greg Sterling, "it could be quite a significant boost for Google's embattled Wallet program, which recently lost its product manager and saw the last-minute decision not to introduce a physical payment card -- to broaden the mainstream appeal of the service."
 

Related Topics

Google
Google Wallet
I/O
Gmail
NFC



Google first demoed Google Wallet two years ago in its New York City offices. But nothing much has come of the app that promised to make your phone a wallet.

Google has hardly abandoned the idea of letting customers tap, pay and save using their Android devices and near field communication. Google Wallet is still a key part of the company's ongoing effort to improve shopping on both sides of the checkout counter.

But Google has rolled out a new concept at its I/O developers conference in San Francisco -- one that might trouble PayPal. Google is setting up a function to allow U.S.-based adult Gmail users attach electronic money to an e-mail. Google Wallet is still at the center, but you don't need a phone to make the transaction.

"Paying back your friends is now as simple as sending an e-mail, whether you're chipping in for lunch or reimbursing your roommate for your share of the rent," said Travis Green, product manager for Google Wallet, in a blog post. "Google Wallet is now integrated with Gmail, so you can quickly and securely send money to friends and family directly within Gmail -- even if they don't have a Gmail address."

As Simple as Attaching a File

Here's how it works: When you open up your Gmail and compose a message, you'll see a dollar sign ($) in the row of icons at the bottom, just to the left of the icon you click to attach a photo. When you click the icon, you'll be prompted to enter the amount of money you want to transmit. Press "send" and the transaction is complete.

Sending money is free if your bank account is linked to Google Wallet or using your Google Wallet balance. You will pay a fee if you send money using your linked credit card or debit card. Specifically, you'll pay a flat fee of 2.9 percent per transaction. The minimum fee is 30 cents.

Receiving money is always free regardless of the funding source the sender chooses. That's a departure from PayPal, which charges a fee to the recipient unless it's a friend or family member. There's a transaction limit of $10,000 and a $50,000 transfer limit per five-day period. The transaction is nearly instant -- it could take a couple of minutes to process -- unless you use your bank account to send money. That can take up to 10 days to complete.

Reviving Google Wallet

Greg Sterling, principal analyst at Sterling Market Intelligence, said linking Google Wallet to Gmail has great potential because Gmail already has a huge installed base. He added, however, that users must be willing to associate their bank accounts with their Gmail or Google accounts. There may be some friction or unwillingness to do so.

"If it works it could be quite a significant boost for Google's embattled Wallet program, which recently lost its product manager and saw the last-minute decision not to introduce a physical payment card -- to broaden the mainstream appeal of the service," Sterling said.

Google Wallet is a combined product that includes online payments and smartphone-based payments using NFC. Sterling told us Google underestimated the enterprise and consumer challenges involved in getting people to use NFC payments and the time it would take for adoption.

"Currently there's limited awareness of the NFC-mobile side of Google Wallet and even less usage," Sterling said. "E-mail-based money transfers could become a successful product if Google can build awareness and trust among users."
 

Tell Us What You Think
Comment:

Name:



Salesforce.com is the market and technology leader in Software-as-a-Service. Its award-winning CRM solution helps 82,400 customers worldwide manage and share business information over the Internet. Experience CRM success. Click here for a FREE 30-day trial.


 Mobile Tech
1.   Screen Troubles Briefly Slow iPhone 6
2.   Glass Adds Voice Access to Contacts
3.   Samsung, B&N Partner on Nook Tablet
4.   Acer Desktop Box Rides Chrome Wave
5.   Apple Stock Soars Ahead of iPhone 6


advertisement
HTC One M8 Windows Phone Unveiled
Can be POS device for small business.
Average Rating:
Android 'Fake ID' Puts Millions at Risk
Users: stick to apps from Google Play.
Average Rating:
Researchers Tout Battery Breakthrough
Lithium anode could triple capacity.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Researchers Find Malicious Android Apps Can Hack Gmail
A new study just out shows that a weakness in the Android as well as the Windows Phone and Apple's iOs mobile operating systems can be used to steal sensitive, personal information from users.
 
UPS Stores in 24 States Hit by Data Breach
Big Brown has been breached. UPS said that about 105,000 customer transactions at 51 of its UPS Store locations in 24 states could have been compromised between January and August.
 
Cost of Target Data Breach: $148 Million Plus Loss of Trust
The now infamous Target data breach is still costing the company -- and its shareholders -- plenty. In fact, the retailing giant forecast the December 2013 incident cost shareholders $148 million.
 

Enterprise Hardware Spotlight
Acer's New Desktop Box Rides the Chrome OS Wave
Filling out its Chrome OS line, Acer is following the introduction of a larger Chromebook line earlier this month with a new tiny $180 desktop Chromebox and also a smaller Chromebook.
 
Feds OK $2.3 Billion IBM-Lenovo x86 Server Deal
IBM and Lenovo are celebrating U.S. approval of their x86-based server deal, having cleared some major security hurdles. The deal makes Lenovo a major player for enterprise data centers.
 
Three New Lenovo PCs Aimed at Business Users
Businesses everywhere want computing solutions that do more for less money, and Lenovo has unveiled three new desktop PCs that offer solid computing at a budget-minded price.
 

Mobile Technology Spotlight
Screen Shortage Briefly Puts Brakes on iPhone 6
RAM? Check. Antenna switch? Check. Screen? Oops. Parts suppliers for Apple have found themselves facing a shortage of screens for the new iPhone 6 as next month's release date for the new smartphone looms.
 
Google Glass Adds Voice Access to Phone Contacts
The latest update to Google Glass will let users access their top 20 phone contacts with voice commands alone. A user can then choose a phone call, Google hangouts, e-mail or text messaging.
 
Samsung, B&N Target Amazon with Nook Tablet
They've seen the enemy and it is Amazon. So Samsung and Barnes & Noble are teaming up to combat their common foe with a 7-inch tablet that blends Samsung’s tech, Nook’s content and e-reader platform.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | CRM Systems | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.