According to Google, “You can send what you owe to your friend’s email address or phone number, and they can quickly transfer the money to their bank account – all without installing an app. You can also request money on the web and your friends can pay you back without leaving their browser.”
“Once you receive their money, you won’t even need to cash out. You can just set a default payment method and any money that’s sent to you through Wallet will be automatically transferred to that account.” For those wondering about the difference between Google Wallet and Android Pay, basically Google Wallet is a place where you can send and receive money from other users.
This is versus Android Pay in which Android Pay will be used to make payments for purchases at retailers. It does seem a bit confusing that there are two apps for that, but if you’re more into sending/receiving money, maybe as a business or maybe to repay friends, then Google Wallet is probably what you’re after.