Mobile money is big business, people are making more and more payments with mobile money services. People pay for goods and make payments to one another with ease through these channels.
For example, I've been paying my rent using an Android mobile banking app that my bank provides. I also use it to pay friends and take payments from those in my contacts list via PayPal's mobile app. Mobile payments are most definitely here to stay.
However, Google had predicted this rise far before it arrived. They promised two years ago to "make your phone your wallet." In the end they haven't managed to do that, but that's mostly because of the restrictions levied onto them from phone manufacturers, wireless carriers and other payment providers – each of whom all want a slice of the payments pie.
Now though, it looks as if Google could have found a way around their problem in the simplest of ways: email.
From today, Gmail users in the US can attach money to their emails in much the same way you would attach a video, photo or document.
If a user links their bank account directly to Google Wallet, users won't incur a charge – thus encouraging more to sign up to Google's payments platform.
If you decide against linking the two together, you'll just end up having to stomach a 2.9% cost for using a debit or credit card through the service.
There's also a cap of $10,000 per transaction, so you can't shift massive amounts of money by the service.
How does this change the mobile payments space you ask?
Well, most NFC enabled phones – which is what the previous payments model Google Wallet would be utilising – also can receive and send emails.
The beauty of this is that you won't need to download a cumbersome app, learn a new interface, nor wait for a transaction to be processed. It'll all just happen like sending an email – a task that anyone who can operate technology from the â€˜90s can manage with ease.
It also means that payments will be, more-or-less, frictionless.
While both sides will need a Google Wallet account, it's far more likely that they'll both already have a Google account – especially if they have a Gmail one – so activating it for Google Wallet will be effortless. It does away with the boundaries inflicted by other payment apps.
Gmail is also the largest email provider in the world.
This gives them great leverage in sucking up adopters to Google Wallet, meaning that not only can transactions be carried out effortlessly through Gmail, but the demand for operators to integrate and accept Google Wallet in their phones and stores will be massive.
It seems that Google could well have solved the problem with mobile payments rather quickly.
Do you think that Google's adoption of Gmail payments will have a profound effect on how people exchange money and make payments?
Is this the modern equivalent of the SMS mobile payments revolution?
Let us know by leaving a comment below with your thoughts.