Mobile payment and mobile shopping are on the fast track for major acceptance. This means Apple Pay and Google Wallet are going to be on the minds of users across the mobile landscape. For many, the idea of mobile payment means one thing ─ using your device instead of a credit card to pay for a product or service. But did you know that you can also send money, free of charge, to other users? No longer will you need to depend upon the likes of Paypal ─ it’s all built in to Google Wallet. Best of all, it’s incredibly simple ─ so simple, in fact, you’ll find yourself opting to use it over any other source of sending money to clients and contacts.

As I mentioned, sending money with Google Wallet is free and most transactions are completed within two business days. But even though Google Wallet enjoys a great deal of security, you should take precautions when sending money through the app. You should:

  • Know the person you are sending money to
  • Make sure the email address is correct
  • Enable PIN timeout
  • Verify your identity

PIN timeout

Before we get into the howto of sending money, let’s first setup the PIN timeout. If you do not do this, you could leave your device open to having your bank account drained (if the device were to fall into the wrong hands). To that end, you want to make sure your Google Wallet app locks after a set time. To set up the PIN timeout, follow these steps:

  1. Open Google Wallet
  2. Slide right from the left edge of the screen
  3. Tap Settings
  4. Tap Wallet PIN
  5. Tap PIN timeout
  6. Enter your PIN
  7. Select 15 minutes (See below image)

Now, after 15 minutes of inactivity, Google Wallet will lock and your PIN will be required to gain access.

Verifying your identity

You cannot send funds without first verifying your identity. Normally when you attempt to use a feature of Google Wallet that requires a verified identity, a simple verification wizard will appear. I walked through that wizard and verified my account ─ only to find my account listed as unverified on the Google Wallet page. Even with this unverified account, I was still able to send fund. You don’t want to do this. With that in mind, you want to verify your account is, in fact, verified. Here’s how.

From desktop browser:

  1. Open the Google Wallet page from within a browser
  2. Log in (if necessary)
  3. Click the Gear icon in the upper right corner
  4. If you see the Verify button, click it (if not, your account is verified)
  5. Enter the necessary information and click Verify your identity

From Android:

  1. Open Chrome and go to the Google Wallet Settings page
  2. Swipe right from the left edge of the screen
  3. Tap View full site
  4. Tap the Gear icon
  5. Click Verify
  6. Enter the necessary information and click Verify your identity

You are now ready to send money.

Sending money

Sending money from Google Wallet is incredibly simple. Here’s how to quickly send funds to a user:

  1. Open Google Wallet
  2. Tap the Send Money button
  3. Enter a name or email address for the recipient of the funds (See image below)
  4. Enter the amount to send
  5. Add an optional message
  6. Tap Review (top right corner)
  7. Review the details of the transaction
  8. If all looks good, tap the Send button

The recipient will receive the money and have the choice of adding the funds to their Google Wallet (which gains them access to the funds immediately) or they can opt to transfer the money to the bank account they have associated with their Google Wallet (which takes up to two business days).

You will also receive an email notification of the transaction for your records.

Google Wallet is not just a means to a retail end. With the ability to send (and request) money, you now have the ability to pay for services, send recipients funds, request funds, and much more. Just make sure, before you go through the steps of sending money, you’ve verified your account, set up your PIN timeout, and know (for sure) the recipient of your funds.

See also:

How to set up Google Wallet for easy, secure payment

Google Wallet gets major support in deal with WePay

Are people scared of mobile payments?

Square to add support for Apple Pay and Google Wallet in 2015