Amongst the plethora of new stuff Google announced at the Google I/O 2013 Keynote yesterday, one of the new services they will be offering is actually pretty exciting because of how mundane, yet useful it will be. Google plans to offer a new service soon in which you can send and/or receive money to friends directly through Google Wallet or even just through Gmail! What's really amazing about it is that if you are sending money via Google Wallet, there will be no fees at all, the transaction will be completely free. Sending through Gmail will incur a small fee, but for the added convenience it is to be expected. Here's a video above demoing the service, and a full quote from Google's blog below for more of the details,

Paying back your friends is now as simple as sending an email, whether you’re chipping in for lunch or reimbursing your roommate for your share of the rent.

Google Wallet is now integrated with Gmail, so you can quickly and securely send money to friends and family directly within Gmail -- even if they don’t have a Gmail address. It's free to send money if your bank account is linked to Google Wallet or using your Google Wallet Balance, and low fees apply to send money using your linked credit or debit card.

To send money in Gmail, hover over the attachment paperclip, click the $ icon to attach money to your message, enter the amount you wish to send, and press send.

While sending money in Gmail is currently only available on desktop, you can send money from Google Wallet at from your phone or laptop. You will need to have set up Google Wallet to send and receive money, and Google Wallet Purchase Protection covers you 100% against eligible unauthorized payments.

We’re rolling out this feature over the coming months to all U.S. Gmail users over 18 years old, so keep an eye out for the $ icon in the attachment options. You can also get earlier access if your friends have the feature and send money to you.

To learn more, visit our website.
Source: GMail Blog