- Google has partnered with Western Union and Wise to enable new service
- This officially marks the tech giant’s entry into the remittance services market.
- The company plans to further expand the service to other countries.
Google Pay will now let users based in the USA send back money to their friends and family in India and Singapore. Google has partnered with Western Union and Wise to enable the new service via the Google Pay app.
The company said in a blogpost:
“By the end of the year, we expect that US 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.”
“They said that, as the pandemic continues to create uncertainty, easing the financial anxieties of loved ones is even more critical.”
To send money across their border, users in the US will have to search for the recipient in Singapore or India via their phone number or email, which is tied to their Google Pay account. They then tap “Pay” and choose either Western Union or Wise to send the amount they want.
The feature will only allow individual users to transfer money and that it does not include support for businesses. So a US-based user cannot rely on Google Pay to make payments to any business in India at the moment.
How Google Pay feature will work?
- To send money internationally, users will first have to search for the Google Pay user to whom they wish to send money.
- When they find the contact, they will have to tap on Pay.
- Google Pay will show an option to choose either Western Union or Wise. From there, users will have to choose one option to complete the payment.
Google Pay has over 150 million monthly active users across 30 countries, the company said. With the redesign, Google said its goal was “to make money more simple and secure for everyone” with new tools for managing personal finances and finding deals on purchases.
Google is also partnering with 11 banks to launch Plex, described as a mobile-first bank account that will have no monthly fees, overdraft charges, or minimum balances.
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