Google Pay users in India and Singapore will now be able to receive money from Google pay users in the US. With this, Google has extended its Google Pay features to now incorporate money transfers across nations(mostly in form of remittances) – an industry that sees $700 billion worth of money transfers every year.
For this, Google has joined forces with Western Union and Wise (previously known as TransferWise). On account of this, Google Pay users in the US will actually want to send cash straightforwardly to Google Pay clients in India and Singapore.
At the hour of sending, they can pick both of the two choices accessible – Western Union or Wise.
Google Pay users in India – Sending money from the US to India and Singapore using Google Pay
First look for the Google Pay user to who you need to send cash, tap the Pay button, and afterward select either Western Union or Wise. There on, tap on Continue to see the amount which will be received by the recipient after a small fee charged by the operator.
Click on Continue and pick how you need the beneficiary to get the amount. You can either choose UPI or the Cash pickup option.
The conversion scale and transfer charge will be shown while sending the money. The recipient any charge levied on the transfer of money will be levied on the sender and not the recipient.
Along these lines, when sending money digitally, the US user will be prompted to enter the specific sum they need to send. The expense and conversion scale will be determined dependent on this sum.
Google said it intends to grow this new feature to 200 nations before the year’s end.
Google Pay users in India, “Before the year’s end, we anticipate that U.S. Google Pay clients will actually want to send cash to individuals in excess of 200 nations and domains through Western Union and to in excess of 80 nations through Wise,” the organization said in its assertion.
As a component of the dispatch, all exchanges by means of Western Union will stay free till June 16. However, while using Wise, only the primary exchange will be free for new clients up to $500.
On its part, Google won’t collect any fees from any of the party.
It is important that until further notice, settlements must be produced using the US to India and Singapore, not the reverse way around.