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Soon Google Wallet will send money via text messages

Send cash to anyone in your contact list, no need for email addresses.

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A forthcoming update to Google's Wallet app will drastically change how users send and receive money using it. Instead of needing the recipient's email address, the app now only requires a phone number. When sending money this way, the recipient will receive a text message with a secure link. They then simply enter their debit card number to receive the funds, which transfer to their checking account in minutes. That seems a heck of a lot easier than the current method where both parties have to have the app installed on their phones and have a bank account linked to it.

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