Google made a rather unexpected announcement on the Gmail blog this afternoon. Google Wallet has been integrated into Gmail so users can send and receive money quickly and easily. Both parties don’t need to have a Gmail account to use this, but they do need to have a Google Wallet account. Money can be sent by clicking on a dollar sign within the attachments menu in Gmail on the web.
Money can be sent from a linked debit or credit card, bank account or your Google Wallet Balance. It doesn’t cost anything to send money from your balance or bank account, but there is a 2.9% flat fee to send money from a debit or credit card. The person who receives the money aren’t subject to any fees. There is a five-day transaction limit of $10,000 and a five day transfer limit of $50,000.
Google says money sent from your Google Wallet Balance or credit/debit card is completed within minutes most of the time. It could takes up to 10 days for money to be transferred from a bank account.
Users in the United States will see this new feature in the months ahead.
Source [Official Gmail Blog]