Google Pay has announced international money transfer agreements with remittance firms Wise and Western Union Co for users of its U.S. payments app, according to the companies said on Tuesday.
Google Pay users in the US can now send money to app users in India and Singapore.
It also plans to extend to the 80 countries available via Wise and 200 countries supported by the Western Union by the end of the year.
Users In The US Can Now Transfer Money to India!
Google has now announced that users can send money to loved ones in India using the app (GPay in select countries) app. To provide the operation, the search engine behemoth has collaborated with Western Union and Wise.
This is also a big relief to many and especially to all those people whose children (or loved ones) are working abroad face a lot of confusion in terms of job security and financial anxiety.
Josh Woodward, director of product management at Google said “Even with COVID a lot of people have relocated around the world and we wanted to focus on how we can help facilitate these payments,”
He also added, “Our goal for this year is to work with Wise and Western Union to roll this out for the countries they support.”
Ant Group, Samsung Electronics Co, Apple Inc and PayPal Holdings Inc also offer mobile wallets aiming to be hubs for services ranging from cross-border payments to credit.
Here’s how the feature will work
To transfer money from the US to India on Google Pay firstly you need to select the beneficiary’s name in the contact list and then, tap “Pay,” and select either Western Union or Wise.
From there, you simply follow the step to complete the payment.
Aims To Extend The Inter-Country Money Transfers
According to a special agreement between Google and Western Union, users can send money with this app and make unlimited free transfers until June 16.
Wise, on the other hand, would cover the cost of the first switch for new customers up to $500.This arrangement already operates in the United States, India, and Singapore.
Also by the end of 2021, it intends to extend the inter-country money transfer functionality to the rest of the world.