Google is allowing Google Pay users in the US to send money to their relatives and friends in India and Singapore. The firm has partnered with Western Union and Wise to facilitate the money transfers.
This is the first time Google is allowing cross-border payment on its platform. While both users in the US and India have access to Google Pay, the app works in different ways. In India, the app is primarily based on the Unified Payments Interface (UPI) platform, with card payments being introduced recently.
As TechCrunch noted, India is the largest remittance receiver country in the world with over $80 billion in transfers in 2019. So India being one of the countries receiving this feature doesn’t strike as surprising.
In Google Pay, you’ll be able to see the exact amount your friends will receive as different payment processors charge different fees to facilitate international transactions. Plus, the app will also indicate when they’ll receive the money.
Currently, Google will not charge any additional fees for these transfers. Plus, till June 16, Western Union is making all transactions under $500 free when using this new Google Pay feature.
The firm said that by the end of the year, people will be able to send money to 200 countries through Western Union and to 80 countries through Wise.