On Tuesday, Google announced a money-sending event to encourage Google Wallet users to invite their friends to the service. Existing customers can initiate a money transfer for as little as one cent. If the recipient has never created a Google Wallet account, upon verification of their identity and acceptance of the money, both users will receive a $5 credit to their accounts within three business days.
The event will end after 20,000 transactions between users have been completed, which is estimated at approximately $200,000 in money, if everyone accepts the transaction by November 30. Any registered user can invite as many friends as they want, but each transaction is limited to $100 and there is also a security mechanism to verify the identity of users.
Google Wallet 2011
Google Wallet had a similar event in 2011, where it gave away $10 to every new user who signed up for the service. It's also worth noting that on Monday, Snapchat unexpectedly launched Snapcash , which allows users to send and receive money instantly within the app's chat.
