Soon Google Wallet will Send Money via Text Messages
Send cash to anyone in your contact list, no need for email addresses.

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.

Source : http://googlecommerce.blogspot.com/2...act-list.html?