Google Pay users in India can now receive money from the US
Google Payusers in the USA can now send money to users in India and Singapore.
- For this, Google has partnered with Western Union and Wise.
- Recipients in India and Singapore will receive the full amount, the company noted.
- As part of the launch of remittance services on its platform, Google has announced special offers for both Western Union and Wise users.
For this, Google has partnered with Western Union and Wise (formerly known as TransferWise). Thanks to this, Google Pay users in the US will be able to send money directly to Google Pay users in India and Singapore. At the time of sending, they can choose either of the two options available – Western Union or Wise.
TOP VIDEOS FOR YOU
The exchange rate and transfer fee will be displayed while sending money. The receivers in India and Singapore will receive the full amount that the US user intends to send – that is, all the charges will be levied to the sender and not the receiver.
AdvertisementSo, when sending money, the US user will be asked to enter the exact amount they want to send. The fee and exchange rate will be calculated based on this amount.
Google said it plans to expand this option to 200 countries by the end of the year.
“By the end of the year, we expect that U.S. Google Pay users will be able to send money to people in more than 200 countries and territories through Western Union and to more than 80 countries through Wise,” the company said in its statement.
As part of the launch, all transfers via Western Union will remain free from today till June 16. In case of transfers via Wise, the first transfer will be free for new customers up to $500.
On its part, Google will not levy any transfer fee.
It is worth noting that for now, remittances can only be made from the US to India and Singapore, not the other way around.
Indians form the largest group sending money back home
Indians form the biggest group of immigrants who send money back home – according to the United Nations’ International Organization for Migrants, Indians sent back $78.6 billion in 2018. China and Mexico came in next, with $67.4 billion and $35.7 billion remittances, respectively.
The US remains the largest remitter at $68 billion, followed by the United Arab Emirates and Saudi Arabia at $44.4 billion and $36.1 billion, respectively.
Coinbase hires former Google Pay exec to lead India ops, is hiring aggressively and looking for startup acquisitions
Here is how WhatsApp Pay stacks up against Google Pay and PhonePe
WhatsApp Pay UPI is now live while Google Pay, PhonePe have already got the first sting
- Best sound quality earphones in India
- Manchester City, PSG, Barcelona, AC Milan and other football clubs are launching crypto tokens to rein in more revenue
- Paytm ropes in Goldman Sachs, JP Morgan as bankers for upcoming IPO — there may be more along the way
- Best cable protector and wire organizer clips
- Best office chairs for working from home In India