Gmail money transfers are now possible through your iPhones
Only domestic transfers are currently available, but Google plans to offer international money transfers in the future.
As part of a growing number of platforms offering the service, Gmail will now allow iOS users to send money transfers through its Google Pay app.
The Gmail money transfers will allow Apple consumers to send up to $9,999 in a single transaction or up to $10,000 over a seven-day timeframe. The money transfer service is currently only available in the US, but Google plans to have the service available overseas in the future.
Google’s Gmail money transfers are just the latest from a wave of merchants allowing users to send and receive money.
The money transfer business involving consumer-to-consumer transfers is a huge industry in the US. Western Union experienced a 23% increase in revenue derived from remittances during the first quarter of 2018, and its number of transactions increased by 24%.
So it really should come as no surprise that Google wants to capitalize on all the wealth.
The new service is part of a broader software update in the Gmail app for iOS, which will now allow its users who’ve downloaded the app to transfer money when drafting an email. The feature is simple to employ and all Gmail users have to do to send money is hit the attachment button and scroll down a list.
Gmail’s new money transfer feature isn’t the only transfer app available on iPhones and other iOS systems. Other apps have already been part of the playing field – Zelle, Venmo, Paypal and Square Cash all allow you to send and receive money through iOS.
Google’s announcement of the remittance app was part of many to come out of its three-day developer conference in California, Google I/O 2018. The event allows the technology giant to show off its upcoming features and updates, as well as take a peek into what’s ahead for the platform and future planned developments.
While Gmail’s new app won’t allow you yet to send money overseas from your iOS, learn about other mobile apps that will.