The same attachement icon in the compose screen for attaching files or inserting from Google Drive now features buttons to send and request money. Selecting ‘Send money’ brings up a Google Wallet panel to specify an amount and add a corresponding memo.
After finishing, a Google Wallet card will appear in the body of your message, with users having the ability to carry on with a message before sending the email. Recipients will see that same card at the top of emails and have the ability to ‘Claim money’ through a similar card and dialogue interface.
According to Google, there are no fees involved and that it is “completely free for both of you.” Recipients do not need a Google email address, with only the Gmail app needed to complete the entire transaction. There are also options to have received money directly transferred to a bank account.
The feature is rolling out now in the US with version 7.2.26 of Gmail for Android needed to enable it.