While many exciting announcements were made at Google I/O, one of them stuck out to us. In the near future, Google Wallet users will be able to link their accounts to their Gmail accounts and attach a dollar amount to send along with the email, just like you would attach a photo or file today.
The new “money as an attachment” feature is free for users with bank accounts linked to their Google Wallets, as well as to users with prepaid Google Wallet accounts. There will, however, be a charge for sending money from a credit or debit card.
Is it safe?
The ability to send money as an email attachment is just one more step towards the possibility of a completely paperless world, but it also raises concerns about security.
While we receipt fanatics here at Shoeboxed are excited to see what the receipt for sending money will look like, we are also concerned about the risk of sending money via email. After all, it would only take someone hacking your Gmail account to also hack your bank account!
Remember when over 400,000 usernames and passwords were stolen from Yahoo, Gmail, Hotmail and more last summer? It’s just a reminder that no site is completely secure– not even tech behemoths like Google. If someone were to access your account, they could start emailing money to themselves in just a few clicks! However, we are confident that the geniuses over at Google will come up with safeguards for its users and will be interested to see how those shape up.
Why would you use this?
We are certainly thrilled that this feature removes another piece of the paper puzzle from today’s daily life! Instead of stopping by the ATM to get cash so you can reimburse your friend for last week’s lunch when you forgot your wallet, just open your Gmail, attach the dollar amount to the email and press send! You’ll also have a digital trail of the money, which is always great when you’re watching your budget or tracking business expenses.
Do you already use Google Wallet, or do you plan to sign up because of this new feature? Do you think you’ll try sending money as an attachment when it’s available? Let us know in the comments!
Image via dailyfinance.com