Google has brought a new peer-to-peer payment feature to the Gmail application on Android OS. The service is now allowing users of the Gmail application on the mentioned operating system to send and receive money. All they need to do is link one card on the account and they’re set.
Gmail New Feature
We have to mention that this new feature will not be available on the iOS version of Gmail for now, but the owners of Gmail accounts from the US will be able to use this service for free. Keep in mind that the in-app service is allowing you to send money to users who don’t even use the Gmail application. We have to remind you that Google re-launched its Google Wallet back in September 2015 and it was rebranded as an app exclusively for P2P payments. In other words, the big search engine company has some history when it comes to the P2P market.
At the same time, back in 2013 Google has allowed the desktop users of Gmail to send and receive money, but when it comes to P2P, there is some competition that the company is aware of.
Venmo
First of all, it is Paypal’s Venmo, which is a top contender payment platform in the space, which can also be used via a mobile application. This service is storing the received money as the “Venmo balance”, allowing you to transfer them at any time you want. TransferWise is another well known payment service, which allows global transactions, with very low fees, which makes it a great cost-effective option of international money transfer when compared to other services.
Facebook has introduced the P2P payment on its Messenger application, which uses machine learning to initiate peer-to-peer payments. While this option is not used by many users out there, we are pretty sure that it will become more popular in the near future.
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