Google Pay is launching international money transfers in collaboration with Wise and Western Union, two well-known remittance firms. Users in India and Singapore that use Google Pay can now receive money from users in the United States.
With this, Google has extended its Google Pay functionality to include remittance services, an industry that sees $700 billion in payments per year.
Google is anticipating that by the end of the year, Google Pay users in the United States will be able to send money to people in more than 200 countries and territories via Western Union and more than 80 countries via Wise.
How US google Pay users can send money to India?
Western Union will provide unlimited free transfers when sending money with Google Pay until June 16, and Wise will make the first transfer free for new customers on transfers up to $500 from now until June 16.
Step 1: Open Google Pay App
Step 2: Tap on "Pay"
Step 3: Choose Between Western Union and Wise
Step 4: Follow the on-screen instructions
Step 5: Complete the transaction.
While sending money, the exchange rate and transfer fee will be shown. The receivers in India and Singapore will receive the full sum that the US consumer wishes to give, with all charges imposed against the sender rather than the recipient.
Last November, Google updated its digital wallet in the United States, releasing a new Google Pay app for both Android and Apple iOS users. The redesign, according to the US tech giant, was centered on simplicity, stability, and privacy, as well as partnerships across various services, including financial services.
Wise, based in London, was established in 2011 with the aim of making international money transfers cheaper and faster, while Western Union, with its vast global network of physical locations, remains the market leader in remittances.